# Oil futures slip 1% on worries about more U.S. interest rate hikes | Reuters

> Oil prices slid about 1% on Monday as strong U.S. economic data led investors to expect further U.S. interest rate hikes. Brent settled at $82.45 a barrel and WTI at $75.68.

- Date: 2023-02-27 · published 2023-02-27T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/37486-oil-futures-slip-1-on-worries-about-more-u-s-interest-rate-hikes-reuters
- 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 rate expectations strengthen the dollar and raise financing costs, which can weigh on energy and broader commodity prices, including feed-linked inputs like diesel and freight.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-12-04 | [Oil falls over 3% after data raises Fed interest rate worries \| Reuters](https://feedsoft.ai/events/38137-oil-falls-over-3-after-data-raises-fed-interest-rate-worries-reuters.md) | -11.1% | -3.8% |
| 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 | 2023-12-12 | [U.S. crude oil falls more than 3% on inflation worries](https://feedsoft.ai/events/32888-u-s-crude-oil-falls-more-than-3-on-inflation-worries.md) | +1.7% | +0.6% |
| WTI | 2022-06-23 | [Oil prices slump as investors fear Fed rate hikes will hurt demand \| Reuters](https://feedsoft.ai/events/41110-oil-prices-slump-as-investors-fear-fed-rate-hikes-will-hurt-demand-reuters.md) | +4.5% | -8.0% |
| WTI | 2021-05-19 | [Oil prices dive $2 on fears of Asian pandemic, possible U.S. rate hikes \| Reuters](https://feedsoft.ai/events/47009-oil-prices-dive-2-on-fears-of-asian-pandemic-possible-u-s-rate-hikes-reuters.md) | +1.1% | +10.0% |
| BRENT | 2022-12-04 | [Oil falls over 3% after data raises Fed interest rate worries \| Reuters](https://feedsoft.ai/events/38137-oil-falls-over-3-after-data-raises-fed-interest-rate-worries-reuters.md) | -11.4% | -5.6% |
| BRENT | 2023-12-12 | [U.S. crude oil falls more than 3% on inflation worries](https://feedsoft.ai/events/32888-u-s-crude-oil-falls-more-than-3-on-inflation-worries.md) | +3.3% | +2.3% |
| BRENT | 2022-06-23 | [Oil prices slump as investors fear Fed rate hikes will hurt demand \| Reuters](https://feedsoft.ai/events/41110-oil-prices-slump-as-investors-fear-fed-rate-hikes-will-hurt-demand-reuters.md) | +4.3% | -2.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-little-changed-russian-supply-cuts-support-prices-2023-02-27/

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