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Sep 21, 2022MACROGlobal

Oil prices slide 1% after U.S. Fed raises interest rates

Oil prices fell about 1% to a near two-week low after the Federal Reserve raised its target rate by 75 basis points to 3.00-3.25% and signalled more large increases. Risk assets fell and the dollar rallied on the news.

WHY IT MATTERS

Tighter US monetary policy raises the risk of weaker economic activity and fuel demand, pressuring crude prices. Higher crude also feeds into biofuel and feed-freight costs.

AFFECTSCrude Oil (WTI)▼

SOURCE
reuters.comScott DisavinoSep 21, 2022

Price reaction & history

Crude Oil (WTI)▼bearishSO FAR1d -1.6%5d -6.9%20d -1.7%

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

Dec 4, 2022Oil falls over 3% after data raises Fed interest rate worries | Reuters-11.1%
Sep 20, 2023Oil prices ease 1% after US Fed warns of higher rates for longer-0.1%
Dec 15, 2022Oil prices slid 2% as dollar firms and central banks hike interest rates+1.3%
Feb 27, 2023Oil futures slip 1% on worries about more U.S. interest rate hikes | Reuters+4.5%
Sep 18, 2024Crude oil prices today: WTI, Brent lower as Fed cuts rates+0.3%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Crude Oil (WTI) WTI · GP ▸

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