Interest rate fears weigh on oil prices.
TL;DR
Oil prices fell on Wednesday as recession fears resurfaced alongside expectations of another interest rate hike in May. The American Petroleum Institute report had sent oil prices higher on Tuesday with estimates that both crude and product inventories in the U.S. fell. A Fed official suggested on Tuesday that another small rate hike may be needed to offset bullish data coming out of China.
Topics:businessenergy#american-petroleum-institute#china#energy#interest-rate-hike#oil-prices#recession-fears
- Oil Prices Dip As Recession Fears Resurface OilPrice.com
- Oil falls 2% as U.S. dollar strengthens on Fed rate hike expectations CNBC
- Oil slides as interest rate expectations eclipse Chinese data Yahoo Finance
- Oil prices steady as strong China data offsets US rate worries Reuters
- Fears Of An Interest Rate Hike Keep Oil Prices Under Pressure OilPrice.com
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