# Oil prices ease 1% after US Fed warns of higher rates for longer

> Oil prices fell about 1% to a one-week low after the Federal Reserve held interest rates steady but projected one more rate increase by year-end. Fed policymakers still see the benchmark rate peaking in the 5.50%-5.75% range.

- Date: 2023-09-20 · published 2023-09-20T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/34005-oil-prices-ease-1-after-us-fed-warns-of-higher-rates-for-longer
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher-for-longer rates slow economic growth and can reduce energy demand, adding bearish pressure to crude and, by extension, biofuel-linked feedstock values. Feed buyers may see modest downward pressure on energy-linked costs.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-09-21 | [Oil prices slide 1% after U.S. Fed raises interest rates](https://feedsoft.ai/events/39490-oil-prices-slide-1-after-u-s-fed-raises-interest-rates.md) | -6.9% | -1.7% |
| WTI | 2024-09-18 | [Crude oil prices today: WTI, Brent lower as Fed cuts rates](https://feedsoft.ai/events/28216-crude-oil-prices-today-wti-brent-lower-as-fed-cuts-rates.md) | +0.3% | -1.2% |
| WTI | 2020-09-30 | [Prices for vegetable oil are falling after oil quotations](https://feedsoft.ai/events/51197-prices-for-vegetable-oil-are-falling-after-oil-quotations.md) | +3.7% | +0.8% |
| WTI | 2022-09-21 | [WTI Falls as USD Spikes to 20-Year High after Fed Rate Hike](https://feedsoft.ai/events/39497-wti-falls-as-usd-spikes-to-20-year-high-after-fed-rate-hike.md) | -6.9% | -1.7% |
| WTI | 2025-02-01 | [Oil prices settle pennies higher, down for week as Trump touts energy policy](https://feedsoft.ai/events/26664-oil-prices-settle-pennies-higher-down-for-week-as-trump-touts-energy-policy.md) | -2.1% | -5.8% |
| BRENT | 2026-09-18 | [Ringgit opens higher against US dollar as oil prices ease \| The Star](https://feedsoft.ai/events/17729-ringgit-opens-higher-against-us-dollar-as-oil-prices-ease-the-star.md) | -0.3% | +5.0% |
| BRENT | 2024-09-18 | [Crude oil prices today: WTI, Brent lower as Fed cuts rates](https://feedsoft.ai/events/28216-crude-oil-prices-today-wti-brent-lower-as-fed-cuts-rates.md) | +1.5% | -0.2% |
| BRENT | 2025-02-01 | [Oil prices settle pennies higher, down for week as Trump touts energy policy](https://feedsoft.ai/events/26664-oil-prices-settle-pennies-higher-down-for-week-as-trump-touts-energy-policy.md) | -2.9% | -3.9% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-concerns-over-tightening-supply-2023-09-20/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.