Oil settled lower on fear of higher than expected interest rate hikes from FED
Oil settled lower on fear of higher than expected interest rate hikes from FED
International benchmarks for crude oil settled lower on Tuesday, 14 June 2022 as the market fear that the Federal Reserve would increase the interest rate more aggressively than expected to combat the decade-high inflation.
Brent dipped $1.10 or 0.9% to close at $121.17/barre.
WTI fell $2 or 0.7% to close at $118.93/barrel.