Oil prices jump after diving in wake of US interest rate hike

The Federal Reserve announced the biggest interest rate increase since 1994, with oil prices soon sent downward, but investors stay confident on crude demand holding steady.

Photo: Marcio Jose Sanchez/AP/Ritzau Scanpix

After taking a steep fall, oil is trading higher due to tight supply and forecasts of stable demand.

This occurs after the US Federal Reserve’s Wednesday announcement of raising the dollar interest rate with 75 basis points, the largest rate hike since 1994.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Celsius Shipping out of Russian dilemma

Celsius Shipping spearheaded by Jeppe Jensen no longer has to stand powerless by while one of its ships call at port in Russia. Contract with Chinese energy firm has expired.

Further reading

Related articles

Latest news

See all jobs