Oil slipped on higher interest rates, weak global economic outlook
Oil slipped on higher interest rates, weak global economic outlook
International benchmarks for crude oil dropped further on Friday, 22 April 2022 after the Federal Reserve signalled another 0.5-point increase in interest rate just after the IMF forecasted lower global economic growth because of the Russia-Ukraine war and China lockdown.
Brent fell $1.68 or 1.6% to settle at $106.65/barrel.
WTI decreased $1.72 or 1.7% to close at $102.07/barrel.