Oil prices fell about 1 %, today, Wednesday, after data showed a less-than-expected decline in US crude oil inventories, and the Federal Reserve (US Central Bank) raised interest rates by 0.25 %.
Brent crude futures fell 72 cents, or 0.9 %, to settle at $82.92 a barrel.
The price of US West Texas Intermediate crude was $78.78 a barrel, down 85 cents or 1.1 %.
Both benchmarks fell more than a dollar earlier in the session, after hitting their highest levels in three months on Tuesday.
Raising interest rates increases borrowing costs for businesses and consumers, which could slow economic growth and reduce demand for oil./ End
Source: National Iraqi News Agency