Oil Slides on Clues About Fed Policy and Rumours of Hormuz Deal

Oil settles lower on clues about Fed policy, rumors of Hormuz deal

On Friday, oil prices dipped, driven by signals from the Federal Reserve and circulating rumors regarding the Strait of Hormuz. Market traders assessed the possibility of rate hikes by the U.S. Federal Reserve aimed at battling inflation. Additionally, talks of a potential agreement to reopen the Strait influenced the market dynamics, which were affected by inconsistent oil flows, as U.S. officials addressed Venezuelan crude reserves.

Oil settles lower on clues about Fed policy, rumours of Hormuz deal

Both oil benchmarks declined for the day Read more at The Business Times.

Oil slides on clues about Fed policy and rumours of Hormuz deal

Brent and WTI benchmarks headed for weekly declines; Fed chief makes comments pointing to rate hike later this year.

Crude Oil Markets Plunge Over 4% as Fed Tightening and Hormuz Negotiations Intensify

Crude oil tumbled over 4% this week as Fed Chairman Warsh hinted at rate hikes, Strait of Hormuz deal talks advanced, and inventory data pressured markets. The post Crude Oil Markets Plunge Over 4% as Fed Tightening and Hormuz Negotiations Intensify appeared first on Blockonomi.

Oil Has Its Worst Week in Months as Hormuz Talks Heat Up and the Fed Signals Rate Hikes

TLDR Brent crude settled at $89.31 a barrel, down 0.43%, while WTI finished at $83.40, down 0.16% Both benchmarks fell more than 4-5% for the week New Fed Chairman Kevin Warsh hinted at a possible rate hike later this year to fight inflation Rumors of a potential deal to reopen the Strait of Hormuz...