# Oil falls over 3% after data raises Fed interest rate worries | Reuters

> Oil prices fell over 3% after economic data raised concerns that the Federal Reserve may keep interest rates high. OPEC+ had agreed on Sunday to keep its October plan to cut output by 2 million bpd through 2023.

- Date: 2022-12-04 · published 2022-12-04T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38137-oil-falls-over-3-after-data-raises-fed-interest-rate-worries-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 weigh on energy demand expectations, pressuring crude and energy-linked costs for feed producers such as diesel and fertilizer inputs.

## 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 | 2023-02-27 | [Oil futures slip 1% on worries about more U.S. interest rate hikes \| Reuters](https://feedsoft.ai/events/37486-oil-futures-slip-1-on-worries-about-more-u-s-interest-rate-hikes-reuters.md) | +4.5% | -9.2% |
| WTI | 2024-09-18 | [Oil prices fall as Fed rate cut stirs economic worries, storage report mixed \| Reuters](https://feedsoft.ai/events/28482-oil-prices-fall-as-fed-rate-cut-stirs-economic-worries-storage-report-mixed.md) | +0.3% | -1.2% |
| WTI | 2023-05-11 | [Oil falls 2% on weak US and Chinese economic data \| Reuters](https://feedsoft.ai/events/36104-oil-falls-2-on-weak-us-and-chinese-economic-data-reuters.md) | +0.4% | -1.7% |
| 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% |
| BRENT | 2023-02-27 | [Oil futures slip 1% on worries about more U.S. interest rate hikes \| Reuters](https://feedsoft.ai/events/37486-oil-futures-slip-1-on-worries-about-more-u-s-interest-rate-hikes-reuters.md) | +3.7% | -10.2% |
| BRENT | 2024-09-18 | [Oil prices fall as Fed rate cut stirs economic worries, storage report mixed \| Reuters](https://feedsoft.ai/events/28482-oil-prices-fall-as-fed-rate-cut-stirs-economic-worries-storage-report-mixed.md) | +1.5% | -0.2% |
| BRENT | 2023-05-11 | [Oil falls 2% on weak US and Chinese economic data \| Reuters](https://feedsoft.ai/events/36104-oil-falls-2-on-weak-us-and-chinese-economic-data-reuters.md) | +0.5% | -0.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-rises-after-opec-holds-oil-output-targets-china-eases-covid-curbs-2022-12-04/

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