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Oil slipped on higher interest rates, weak global economic outlookOil slipped on higher interest rates, weak global economic outlook |
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International benchmarks for crude oil dropped further on Friday, 22 April 2022 after the Federal Reserve signalled another 0.5-point increase in interest rate just after the IMF forecasted lower global economic growth because of the Russia-Ukraine war and China lockdown.
Brent fell $1.68 or 1.6% to settle at $106.65/barrel.
WTI decreased $1.72 or 1.7% to close at $102.07/barrel.
