Oil Surges as Traders Await Fed Cut, Industry Sees Storage Drop
Tug boats transport the Hess Corp. Stampede tension leg oil platform, towed from offshore services. (Photographer: Eddie Seal/Bloomberg)

Oil Surges as Traders Await Fed Cut, Industry Sees Storage Drop

(Bloomberg) -- Oil surged as the Federal Reserve moved toward a rate-cut to boost the economy while tensions with Iran threatened to choke Middle East supplies.
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