Fed raises rates, oil and gas prices drop, gold remains strong, US oil demand increases.

From Investing.com: 2024-12-19 09:26:00

The Fed raised its dot plot and removed rate cuts from the table, causing commodities like oil and gas to plummet. Despite this, gold remained strong due to bullish fundamentals. Oil demand in the US is up, with refineries operating at high capacity, and exports hitting record highs. US oil production has plateaued, with the possibility of a ceasefire in Ukraine. Biden is focusing on green energy projects, facing criticism for rushed approvals. Global coal production is set to hit record highs. Oil prices are stabilizing, and natural gas is rising due to cold weather. US LNG exports are expected to double in the next 5 years, boosting the economy. The demonization of the US oil and gas industry by the Biden administration is seen as a major failure.



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