Oil prices rose on September 22 after the decision of the US Fed

Oil prices rose on September 22 after the decision of the US Fed
Oil prices rose on September 22 after the decision of the US Fed

Brent crude oil futures rose 0.37% to $90.16 per barrel. American West Texas Intermediate (WTI) crude oil rose by 0.35% to $83.23.

Both contracts fell to near two-week lows on Wednesday after the U.S. Federal Reserve raised interest rates by 75 basis points for a third time to curb inflation and signaled that borrowing costs would continue to rise this year.

According to analysts at Haitong Futures, the market had priced in expectations of a rate hike, and the Fed’s announcement did not cause much surprise.

A strong dollar is also holding back oil prices as it makes it more expensive for many buyers. The dollar index hit a 20-year high against a basket of currencies on Wednesday.

Oil prices remain under pressure from sellers due to inventory build-ups and a worsening economic outlook, analysts at Citi said.

Germany nationalized gas importer Uniper on Wednesday and Britain said it would halve electricity bills for businesses in response to a supply crisis it has revealed. Europe’s dependence on Russian fuel

Russian President Vladimir Putin on September 21 ordered Russia’s first mobilization since World War II and backed a plan to annex Ukrainian territory, warning the West that he was not bluffing when he said he was ready to use nuclear weapons.


The article is in Ukrainian

Tags: Oil prices rose September decision Fed

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