Oil settled down on a stronger dollar, and potentially more rate hikes ahead
Oil settled down on a stronger dollar, and potentially more rate hikes ahead
International benchmarks for crude oil settled lower for the third consecutive session on Wednesday, 12 October 2022 on a stronger dollar and concerns over more interest rate hikes among major central banks.
Brent slipped $1.84 or 2% to close at $92.45/barrel.
WTI loses $2.08 or 2.3% to settle at $87.27/barrel.