After the US Fed increased the discount rate, oil prices rose and weakened the dollar

February 2 (Reuters) – Thursday USA Oil in Asian trade after the Federal Reserve raised interest rates by 25 basis points prices increased and caused the dollar to fall.

Brent crude futures rose 56 cents, or 0.7%, to $83.40 a barrel. USAWest Texas Intermediate (WTI) crude oil futures rose 65 cents or 0.8% to 77.05 a barrel. dollars has been

The Federal Reserve raised its target interest rate by a quarter percentage point on Wednesday, but inflation continued to promise “sustained increases” in borrowing costs as part of the ongoing fight against

“Inflation has eased slightly but remains high,” he said USA The central bank stated that the progress made in reducing the rate of price increase from the highest levels of 40 years last year was clearly acknowledged.

Weaker dollars It makes oil priced in US dollars cheaper for holders of other currencies and increases demand.

The US dollar fell by 0.3% against a basket of currencies in the last session and fell to 101.15.

Latest UpdatesFuel Oil CategoryEuropean Union Russia trying to agree on the ceiling of the price of oil products, eager to make a deal on Friday, article with imageMarketscategoryLower gas prices 21 net damage to rescued Uniper billion helps deliver to dollars, article with gallery

See 2 more stories

On February 5 European Union against the background of the ban on processed products of Russia prices also rises.

Diplomats said that after EU countries postponed a decision on Wednesday amid disagreements among member states, Europe Commission Russia will try to reach an agreement on Friday on the proposal to set a price limit for oil products.

Europe Commission last week offer made that the EU from February 5 Russia per barrel of high-value oil products such as diesel 100 dollarsapply a price limit of 45 dollars per barrel of discounted products such as fuel oil.

Reporting by Laura Sanicola; Edited by Leslie Adler

Our standards: Thomson Reuters Trust Principles.

Laura Sanicola

Thomson Reuters

Reports on oil and energy, including refineries, markets and renewable fuels. Previously worked at Euromoney Institutional Investor and CNN.

2023-02-02 06:12:57
Source – reuters

Translation“24 HOURS”