Oil Prices React to Fed Announcement and Global Banking Turmoil.
TL;DR Summary
Oil prices were down ahead of the Federal Reserve's update on interest rates, after recovering from last week's losses. Markets expect a rate hike of 25 basis points, but also want reassurances regarding the banking crisis. Hedge fund manager Pierre Andurand believes the latest oil price rout was speculative and predicts oil will rebound and hit $140 per barrel of Brent crude by the end of the year.
- Oil Prices Drop Ahead Of Fed Announcement OilPrice.com
- Oil stabilizes on weaker U.S. dollar ahead of Fed rates decision CNBC
- Oil Bulls Counting on OPEC Fear to Replace Fed Fear Investing.com
- Global banking turmoil sends a chill through the oil and gas sector Upstream Online
- Could crude oil prices go down to $40? ZAWYA
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
2 min
vs 3 min read
Condensed
84%
426 → 68 words
Want the full story? Read the original article
Read on OilPrice.com