Oil slips on rate hike worries ...Iraq

SHAFAQ NEWS - News
Oil slips on rate hike worries
source : SHAFAQ NEWS ( Iraq ) () 23
Shafaq News / Oil prices extended losses on Tuesday as the threat of further interest rate increases and continued Russian crude flows cancelled out demand recovery expectations from China. March Brent crude futures fell 5 cents to $84.85 per barrel by 0415 GMT, while the more heavily traded April contracts fell by 32 cents or 0.38% to $84.18 a barrel. U.S. West Texas Intermediate (WTI) crude futures slipped 33 cents, or 0.42%, to $77.57 a barrel. "Oil markets are facing downside pressure as risk-off trades prevail ahead of the Fed meeting, along with a strengthened USD," said CMC Markets analyst Tina Teng. The demand outlook is still uncertain as Russia's exports seem unaffected by

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