Oil Pices Extend Losses after Fed Rate Hike and Economic Concerns
Oil prices fell 4% after the U.S. Federal Reserve raised interest rates and investors worried about the economy. Brent futures and WTI crude decreased, and the unexpected rise in U.S. gasoline inventories and China's manufacturing activity added to the pressure. Morgan Stanley lowered its Brent price forecast, while the Fed signaled a possible pause in further increases.
Source: news18.com
