- August 25, 2022
- Posted by: AliensFaith
- Category: OBJECTIVE PRESS
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Crude oil prices sank on Thursday afternoon while the market was eyeing the Federal Reserve’s speech for clues about future interest rate hikes. At 3:00 p.m., ET, WTI had slipped $1.90 per barrel (-2.00%) to $92.99, with Brent crude slipping $1.33 (-1.31%) to $99.89—sinking under $100 again. The downward trend is just the latest swing on Thursday as the market attempts to understand the impact that a rate hike will have on crude oil demand compared to the impact that an OPEC+ production cut would have on supply. Federal Reserve Chairman…
