By Adedapo Adesanya The Brent crude grade appreciated by 1.6 per cent or $1.51 on Wednesday to $96.16 per barrel despite the United States Federal Reserve raising interest rate for the fourth time this year. The oil market held its rally even as stocks fell and the dollar rallied after Federal Reserve Chair Jerome Powell… Continue reading Brent Appreciates Despite Fresh US Rate Hike
Tag: US rate hike
Oil Slides on Fresh Worries about US Rate Hike
By Adedapo Adesanya Oil prices dropped nearly $2 a barrel on Thursday as fresh worries emerged that the interest rate hikes in the United States would slow economic growth. Brent crude futures settled at $110.05 a barrel after falling by $1.69 or 1.5 per cent and the U.S. West Texas Intermediate (WTI) crude futures settled… Continue reading Oil Slides on Fresh Worries about US Rate Hike