WTI Oil Prices Dip Below $90 a Barrel Following Fed Comments
West Texas Intermediate (WTI) crude futures slipped below $90 a barrel at midweek after the Federal Reserve signaled that one additional rate hike is possible this year.
In a widely anticipated move, the central bank maintained the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. Fed officials re-emphasized they are "strongly committed to returning inflation to its 2 percent objective."
The central bank has raised rates 11 times since March 2022. After peaking in June 2022 at 9.1%, U.S. inflation...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required. Password is required.