Oil Falls Ahead Of the Announcement of the US Federal Reserve's Decision on the Interest Rate

  • International
  • 20 September 2023
1

Oil prices fell, becoming further away from their highest levels in ten months, ahead of the announcement of the Federal Reserve (US Central Bank) decision on the interest rate, amid a state of uncertainty among investors about when interest rates will reach their peak and the extent of its impact on energy demand.

Brent crude futures fell by slightly more than a dollar to $93.33 per barrel, and in the latest trading on Wednesday, they fell 80 cents, equivalent to 0.8 percent, to $93.54 per barrel. Brent recorded $95.96 yesterday, Tuesday, its highest level since November. US West Texas Intermediate crude futures fell 0.8 percent, or 75 cents, to $90.45 a barrel, after rising to a ten-month high of $93.74 a barrel.

Source (Al-Arabiya.net, Edited)

 

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