Oil retreats as Fed's rate signal eclipses decline in stockpiles

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​Oil fell after the Federal Reserve signaled that at least one more interest-rate hike is possible this year in its fight to subdue stubborn inflation, overshadowing signs of a tighter physical crude market.

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Oil Retreats as Fed’s Rate Signal Eclipses Decline in StockpilesOil fell after the Federal Reserve signaled that at least one more interest-rate hike is possible this year in its fight to subdue stubborn inflation, overshadowing signs of a tighter physical crude market.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Housing or oil prices: Which is the Fed’s biggest problem?After last month’s FOMC meeting, Fed Chair Jerome Powell assured the public that regulators will be taking a careful data-dependent approach to interest rates. With the U.S. housing market in a less-than-ideal situation — home constructions falling to their lowest levels since 2020 — oil prices are also shooting higher. A big question remains: Will oil prices or the housing market be the Fed’s biggest hurdle? American Banker Staff Writer Kyle Campbell joins Yahoo Finance Live to settle the debate, contrasting the volatile nature of oil prices and the overall affordability crisis affecting consumers’ ability to buy a home under higher interest rates. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »