Oil Prices Rise Despite Expectations Of Another Interest Rate Hike ...Middle East

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Oil Prices Rise Despite Expectations Of Another Interest Rate Hike
source : OILPRICE ( Middle East ) () 20
Oil prices rose early on Wednesday in Europe in subdued and choppy trade as the markets expect the Fed’s interest rate decision in the early afternoon ET.  As of 2:30 a.m. ET, the U.S. benchmark WTI Crude was up by 1.04% at $84.78. Brent Crude, the international benchmark, traded 1.09% higher at $91.57. Oil prices settled lower on Tuesday, amid expectations that the Fed would announce another rate hike of 75 basis points, a third consecutive such increase. Fears that the aggressive rate hikes would accelerate the economic slowdown and…

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