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Oil prices fell 4% after the Fed raised interest rates by a quarter of a percentage point, pressuring oil prices as traders worried that slower economic growth could hit energy demand. Brent was down 4% to close at $72,33 per barrel (lowest since December 2021), and WTI fell 4.3% to $68.80. Yet, the Fed also signaled it may pause further increases, which should support oil prices.

Oil falls 4%, extending losses after Fed rate hike

Oil prices fell 4% after the Fed raised interest rates by a quarter of a percentage point, pressuring oil prices as traders worried that slower economic growth could hit energy demand. Brent was down 4% to close at $72,33 per barrel (lowest since December 2021), and WTI fell 4.3% to $68.80. Yet, the Fed also signaled it may pause further increases, which should support oil prices.

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