Arab News Headlines

Oil Slips for Third Session on Likely ‘Higher for Longer’ US Rates

Oil prices fell for a third straight session on Wednesday on expectations the Federal Reserve might keep US interest rates higher for longer due to sustained inflation, potentially impacting fuel use in the world’s largest oil consumer.

Brent crude futures were down 43 cents, or 0.5%, to $82.45 a barrel.

US West Texas Intermediate crude (WTI) futures slipped 50 cents, or 0.6%, to $78.16.

Source: Qatar News Agency