Oil prices climbed for the third day on signs of stronger demand and hopes that the Federal Reserve will soon take its foot off the gas.&nbsp;

Brent crude ticked closer to $86 per barrel, while West Texas Intermediate eclipsed $83.

Fresh data showed an increase in US gasoline and jet fuel consumption as the summer travel season gets underway. Additionally, nationwide crude stockpiles continued to dwindle, while Brent's prompt spread emphasised tighter near-term conditions.

Slumping to its weakest since 2021, US inflation slowed sharply in June, fanning expectations that the Federal Reserve might cut borrowing costs this quarter. Concerning this development in price action, the sudden weakening of the US dollar happened amid a renewed appeal for commodities among overseas buyers.

Oil prices have risen this year as OPEC+ has restrained output to drain a glut in the market, offsetting increases from nations outside the group. The cartel anticipates that worldwide oil demand will gain more than 2 million barrels per day this year. However, the International Energy Agency injected a note of caution as it forecasted a slowing down of China's economic growth.

The underlying metrics portray strength despite lacklustre recent headline price movements. Brent's prompt spread- the gap between the two nearest contracts broke above $1 a barrel in backwardation this week, over twice the difference a month ago.

The performance of oil recently reflects some of the complexities that are at play in markets. In a market poised by improving indicators of demand and a looming potential pivot by the Federal Reserve, the oil market is caught between supply constraints and economic shifts.

Oil prices climbed for the third day on signs of stronger demand and hopes that the Federal Reserve will soon take its foot off the gas. Brent crude ticked closer to $86 per barrel, while West Texas Intermediate eclipsed $83.

Oil prices climbed for the third day on signs of stronger demand and hopes that the Federal Reserve will soon take its foot off the gas. Brent crude ticked closer to $86 per barrel, while West Texas Intermediate eclipsed $83. Fresh data showed an increase in US gasoline and jet fuel consumption as the summer travel season gets underway. Additionally, nationwide crude stockpiles continued to dwindle, while Brent's prompt spread emphasised tighter near-term conditions. Slumping to its weakest since 2021, US inflation slowed sharply in June, fanning expectations that the Federal Reserve might cut borrowing costs this quarter. Concerning this development in price action, the sudden weakening of the US dollar happened amid a renewed appeal for commodities among overseas buyers. Oil prices have risen this year as OPEC+ has restrained output to drain a glut in the market, offsetting increases from nations outside the group. The cartel anticipates that worldwide oil demand will gain more than 2 million barrels per day this year. However, the International Energy Agency injected a note of caution as it forecasted a slowing down of China's economic growth. The underlying metrics portray strength despite lacklustre recent headline price movements. Brent's prompt spread- the gap between the two nearest contracts broke above $1 a barrel in backwardation this week, over twice the difference a month ago. The performance of oil recently reflects some of the complexities that are at play in markets. In a market poised by improving indicators of demand and a looming potential pivot by the Federal Reserve, the oil market is caught between supply constraints and economic shifts.

Oil prices ascend as demand dynamics and Fed policy shifts converge

Democratic presidential candidate Hillary Clinton on Tuesday attacked rival Donald Trump on multiple fronts and also accused him of &#39;hiding his taxes&#39; in the wake of Trump&#39;s comments on Federal Reserve&#39;s monetary policy.&nbsp; 
 
&quot;You should not be commenting on Fed actions when you are either running for president or you are president,&quot; Reuters quoted her as saying, adding that &quot;words can be misinterpreted and hence move markets&quot;. 
 
Trump had accused the US central bank of trying to help Democratic President Barack Obama by keeping interest rates low. He later added that interest rates should change.&nbsp; 
 
&ldquo;They&#39;re keeping the rates down so that everything else doesn&#39;t go down,&quot; the New York real estate magnate said.&nbsp; 
 
&ldquo;We have a very false economy,&rdquo; he added.&nbsp; 
 
Clinton said that Trump should not try to talk up or down the economy.&nbsp; 
 
&ldquo;He should not be adding Fed to the long list of institutions and individuals that he is maligning and otherwise attacking,&rdquo; she said.&nbsp; 
 
She also lashed out at Republican presidential candidate for his &#39;coughing fit&#39; remark made during a recent presser where he mocked at Clinton for suffering a coughing fit at a gathering in Cleveland. &quot;Everytime, I think about Trump, I get allergic,&quot; she joked.&nbsp; 
 
&#39;Hiding taxes&#39; 
&nbsp; 
As the election race narrows, Clinton also described Trump as &quot;dead wrong&quot; for saying that his tax returns were not the concern of everyday Americans, despite every major presidential nominee since Richard Nixon releasing their taxes before the election. 
 
&quot;I think it is a fundamental issue about him in this campaign that we&#39;re going to talk about in one way or another for the next 62 days, because he clearly has something to hide,&quot; she told reporters. 
 
&quot;If he&#39;s going to pursue this campaign, he owes it to the American people to come clean and release those tax returns.&quot; 
 
&#39;Trump is unfit to be a president&#39;&nbsp; 
 
Clinton, at a voter registration rally in Tampa, also repeated her charge that Trump is &quot;temperamentally unfit&quot; for the office. Before some 1,500 supporters in Tampa, she denounced him as a &quot;demagogue&quot; preying on Americans` insecurities.&nbsp; 
 
&quot;He (Trump) is temperamentally unfit and totally unqualified to be president of the US,&quot; Clinton said as she unveiled a list of allegation against the Republican leader to buttress her point. 
 
Pointing out the alleged dangerous vision for America of Trump, she said that his divisive policies would endanger the US at home and abroad. 
 
He has no plan to combat ISIS and has frequently insulted US military, she said.&nbsp; 
 
&quot;His whole campaign has been one long insult to all those who have worn the uniform to protect our most cherished American values. And a man who is so wrong about our veterans isn&#39;t right to serve as our commander-in-chief.&quot;&nbsp; 
 
Edging closer 
 
In a new CNN/ORC poll, Trump has edged ahead of Clinton at 45 per cent to 43 per cent among likely voters, while an NBC News poll of registered voters shows Clinton`s lead holding at six percentage points: &nbsp;48 percent to 42 percent, the AFP reported.&nbsp; 
 
A survey by The Washington Post, looking at all 50 states shows Clinton with a solid lead in terms of electoral college votes, and even strength in some traditional Republican strongholds. 
 
The Democratic party presidential nominee, however, says she doesn&#39;t pay attention to such surveys.&nbsp; 
 
&quot;We&#39;re sticking with our strategy, we feel very good about where we are,&quot; she said. 
 
But the polls show how close the race is looking ahead of the November 8 vote, making the battle for the so-called swing states all the more important. 
 
Both the presidential candidates have just 20 days before the first of three scheduled presidential debates, expected to be the most watched moments of an already raucous campaign. 
 
(WION with inputs from agencies)&nbsp;

Both the presidential candidates have just 20 days before the first of three 'highly-anticipated' presidential debates

Democratic presidential candidate Hillary Clinton on Tuesday attacked rival Donald Trump on multiple fronts and also accused him of 'hiding his taxes' in the wake of Trump's comments on Federal Reserve's monetary policy. "You should not be commenting on Fed actions when you are either running for president or you are president," Reuters quoted her as saying, adding that "words can be misinterpreted and hence move markets". Trump had accused the US central bank of trying to help Democratic President Barack Obama by keeping interest rates low. He later added that interest rates should change. “They're keeping the rates down so that everything else doesn't go down," the New York real estate magnate said. “We have a very false economy,” he added. Clinton said that Trump should not try to talk up or down the economy. “He should not be adding Fed to the long list of institutions and individuals that he is maligning and otherwise attacking,” she said. She also lashed out at Republican presidential candidate for his 'coughing fit' remark made during a recent presser where he mocked at Clinton for suffering a coughing fit at a gathering in Cleveland. "Everytime, I think about Trump, I get allergic," she joked. 'Hiding taxes' As the election race narrows, Clinton also described Trump as "dead wrong" for saying that his tax returns were not the concern of everyday Americans, despite every major presidential nominee since Richard Nixon releasing their taxes before the election. "I think it is a fundamental issue about him in this campaign that we're going to talk about in one way or another for the next 62 days, because he clearly has something to hide," she told reporters. "If he's going to pursue this campaign, he owes it to the American people to come clean and release those tax returns." 'Trump is unfit to be a president' Clinton, at a voter registration rally in Tampa, also repeated her charge that Trump is "temperamentally unfit" for the office. Before some 1,500 supporters in Tampa, she denounced him as a "demagogue" preying on Americans` insecurities. "He (Trump) is temperamentally unfit and totally unqualified to be president of the US," Clinton said as she unveiled a list of allegation against the Republican leader to buttress her point. Pointing out the alleged dangerous vision for America of Trump, she said that his divisive policies would endanger the US at home and abroad. He has no plan to combat ISIS and has frequently insulted US military, she said. "His whole campaign has been one long insult to all those who have worn the uniform to protect our most cherished American values. And a man who is so wrong about our veterans isn't right to serve as our commander-in-chief." Edging closer In a new CNN/ORC poll, Trump has edged ahead of Clinton at 45 per cent to 43 per cent among likely voters, while an NBC News poll of registered voters shows Clinton`s lead holding at six percentage points: 48 percent to 42 percent, the AFP reported. A survey by The Washington Post, looking at all 50 states shows Clinton with a solid lead in terms of electoral college votes, and even strength in some traditional Republican strongholds. The Democratic party presidential nominee, however, says she doesn't pay attention to such surveys. "We're sticking with our strategy, we feel very good about where we are," she said. But the polls show how close the race is looking ahead of the November 8 vote, making the battle for the so-called swing states all the more important. Both the presidential candidates have just 20 days before the first of three scheduled presidential debates, expected to be the most watched moments of an already raucous campaign. (WION with inputs from agencies)

War of words escalates: Clinton lashes out at Trump for Fed comments, accuses him of 'hiding taxes'

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Oil prices ascend as demand dynamics and Fed policy shifts converge

War of words escalates: Clinton lashes out at Trump for Fed comments, accuses him of 'hiding taxes'