Oil Falls 1% after U.S. Interest Rate Hike

  • International
  • 27 July 2023
1

Oil prices fell about 1 percent after data showed a lesser-than-expected decline in U.S. crude oil inventories and the Federal Reserve raised interest rates 0.25 percent.

Brent crude futures fell 72 cents, or 0.9 percent, to $82.92 a barrel at settlement. U.S. West Texas Intermediate crude was at $78.78 a barrel, down 85 cents, or 1.1 percent. Both crude fell more than a dollar after hitting three-month highs.

Source (Al-Arabiya.net Website, Edited)

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