Oil prices slip as high interest rate outlook outweighs tight supply

Oil prices declined due to concerns about lower fuel demand caused by central banks keeping interest rates high. Brent crude futures dropped to $92.91 a barrel, while US West Texas Intermediate crude futures fell to $89.34. The US Federal Reserve and the European Central Bank have both expressed their commitment to fighting inflation, which could lead to longer-lasting tight policies and slower economic growth.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DyvUntV