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Brent futures

Brent futures latest

Oil drops 4% as Fed raises interest rate
May 4th, 2023 - 06:47 GMT

Oil drops 4% as Fed raises interest rate

US warns more hikes possible ALBAWABA - Oil prices fell 4 percent late on Wednesday after the U.S. Federal Reserve Board (Fed) raised interest rates, Reuters reported, as demand declined and concerns brew over a possible economic slowdown. Brent futures settled $2.99 lower, down 4 percent, to $72.33 a barrel, the lowest close since December 2021, and hit a session low of $71.70, the lowest since March 20. U.S. West ...
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