Oil Prices Erase Gains As U.S. Fed Raises Rates ...Middle East

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Oil Prices Erase Gains As U.S. Fed Raises Rates
source : OILPRICE ( Middle East ) () 21
Oil prices were trending down slightly on Wednesday following the 2:30p.m. EST Federal Reserve’s announcement of another hike in interest rates by three-quarters of a percentage point for the second time in a row, while Wall Street continued to flounder in predictions as to what comes after this, while oil prices continue to climb. At 2:38 p.m. ET, WTI was trading up 2.19% on the day at $97.06 per barrel, with Brent crude trading up 2.03% on the day at $106.50. On June 15th, the Fed made its largest rate hike since 1994, raising rates by…

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