Oil slid about 1% after the Federal Reserve lifted the key interest rate
Oil slid about 1% after the Federal Reserve lifted the key interest rate
International benchmarks for crude oil settled lower on Wednesday, 21 September 2022 after the Federal Reserve lifted the key interest rate by another 75-basis point while signalling more large hikes to come. The plunge was partly cushioned by news of Russia mobilising troops in an escalating war against Ukraine.
Brent fell 79 cents or 0.9% to close at $89.83/barrel.
WTI fell $1 or 1.2% to settle at $82.94/barrel.