Oil prices down, investors expect big Fed rate hike

Oil prices dipped today, following other risk assets lower, as the dollar stayed strong and investors anticipated more central bank interest-rate hikes designed to quell inflation.
The U.S. Federal Reserve is likely to raise interest rates by another 75 basis points tomorrow to rein in inflation. 
Those expectations are weighing on equities, which often move in tandem with oil prices. 
Other central banks, including the Bank of England, meet this week as well.

comments powered by Disqus
More Stories
Most Popular
DPP satisfied with government's defence in...
Vybz Kartel appeal hearing ends; Privy...
Privy Council to start hearing arguments...