Oil plunged more than 2% following FED rate hikes
Oil plunged more than 2% following FED rate hikes
International benchmarks for crude oil plunged on Wednesday, 15 June 2022 after the Federal Reserve lifted the interest rate by 0.75 percentage points, marking the biggest hike since 1994, and sending the US dollar higher.
Brent fell $2.7 or 2.2% to settle at $118.51/barrel.
WTI dived $3.62 or 3.04% to settle at $115.31/barrel.