Oil trades lower Thursday, losing ground on fears aggressive tightening by the Federal Reserve will tip the economy into recession, while the dollar rose...
Oil fell Thursday, losing ground on fears aggressive tightening by the Federal Reserve will tip the economy into recession, while the U.S. dollar rose sharply.
Price actionMarket drivers The Federal Reserve on Wednesday raised its key interest rate by 75 basis points, or 0.75 percentage points, as expected, delivering a policy statement that was interpreted as a signal that the size of rate increases would likely fall at the December meeting. Fed Chair Jerome Powell, in a subsequent news conference, said that... Oil fell Thursday, losing ground on fears aggressive tightening by the Federal Reserve will tip the economy into recession, while the U.S.
Price action Market drivers The Federal Reserve on Wednesday raised its key interest rate by 75 basis points, or 0.75 percentage points, as expected, delivering a policy statement that was interpreted as a signal that the size of rate increases would likely fall at the December meeting.
A stronger dollar is seen as a negative for commodities priced in the unit, making them more expensive to users of other currencies.
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