scorecardresearchOil prices slump as investors fear Fed rate hikes will hurt demand

Oil prices slump as investors fear Fed rate hikes will hurt demand

Updated: 24 Jun 2022, 07:51 AM IST
TL;DR.
Brent crude futures settled at $110.05 a barrel, falling $1.69, or 1.5%. U.S. West Texas Intermediate (WTI) crude futures settled at $104.27 a barrel, down $1.92, or 1.8%.
LOS ANGELES, CALIFORNIA - MARCH 28: Oil pumpjacks are viewed in the Inglewood Oil Field on March 28, 2022 in Los Angeles, California. U.S. oil prices fell 7 percent to $105.96 per barrel while Brent crude lost 6.8 percent over demand concerns as China begins to implement a mass COVID-19 lockdown in Shanghai.   Mario Tama/Getty Images/AFP
== FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

LOS ANGELES, CALIFORNIA - MARCH 28: Oil pumpjacks are viewed in the Inglewood Oil Field on March 28, 2022 in Los Angeles, California. U.S. oil prices fell 7 percent to $105.96 per barrel while Brent crude lost 6.8 percent over demand concerns as China begins to implement a mass COVID-19 lockdown in Shanghai. Mario Tama/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==