Oil quotes accelerated growth in Friday trading after falling to April lows.

By 14:19 Moscow time, September futures for Brent rose in price on the London ICE Futures exchange by $2.01 (by 2.03%) – up to $101.11 per barrel. August futures for WTI by that moment were rising in price in electronic trading on the New York Mercantile Exchange (NYMEX) by $1.51 (by 1.58%) – up to $97.29 per barrel.

The rise in oil prices on Friday is largely due to another change in market expectations regarding the increase in the Fed’s key rate. If on the eve of the traders as a whole tuned in to raise the rate by 100 basis points at once at the July meeting, today they are again waiting for a 75 bp increase. after the speeches of a number of leaders of the Central Bank.

In particular, the rate hike by 75 b.p. supported by some of the most prominent „hawks” in the leadership of the Fed, Board of Governors Christopher Waller and the head of the Federal Reserve Bank of Cleveland, Loretta Mester.

„Oil is trading largely in sync with expectations of Fed policy and the impact it will have on demand and the US dollar,” Steven Innes, managing partner at SPI Asset Management, wrote in a note.