empty
 
 

2017.09.2114:52:00UTC+00Crude Oil Rally Pauses On Rate Hike Chatter

Crude oil futures inched lower Thursday, trimming recent gains after the Federal Reserve suggested a rate hike is imminent.

Yesterday, the Fed kept its key interest rate unchanged but maintained their so-called 'dot plot' of rate projections for this year and next, strongly hinting at a December rate hike.

Also, the Fed said it will begin shrinking its bloated $4.5 trillion portfolio in October by allowing $10 billion in bonds to mature without replacing them.

Also denting oil prices, the EIA said U.S. stockpiles jumped again last week as refineries were slow to get back to normal after Hurricane Harvey.

WTI light sweet crude oil was down 14 cents, or 0.3%, to settle at $50.55/bbl on Nymex , easing from a 6-week high.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback