Prices for crude oil declined as worries about demand persisted
Concerns over the demand outlook undermined the latest EIA report on another week of decline in US commercial crude inventories.
Oil market took a dip on Wednesday, 20 March 2024 following the Federal Reserve’s decision to keep the interest rates on a constant note ranging from 5.25% to 5.50%. Concerns over the demand outlook undermined the latest EIA report on another week of decline in US commercial crude inventories.
Brent futures decreased by $1.43 or 1.64% to settle at $85.95/barrel.
WTI fell by $1.79 or 2.14% to settle at $81.68/barrel.