Oil Markets Brace for Bearish Signal Amidst Rising Prices and Export Bans

Crude oil prices are expected to decline this week due to profit-taking and renewed economic concerns sparked by the Fed's comments. Russia's ban on fuel exports added upward pressure to prices, but potential economic challenges in the West and the possibility of a hike in interest rates dampened demand for fuel. The U.S. dollar reaching new heights also made oil more expensive for non-dollar users.