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It is likely to raise Federal Reserve Interest rates increased by another 75 basis points on Wednesday to curb inflation. These expectations weigh on stocks, which often move in tandem with oil prices. Other central banks will also hold meetings this week, including the Bank of England.
Upload is supported interest rates The dollar, which today settled near a two-decade high against its peers, makes oil more expensive for holders of other currencies.
Brent crude futures for November delivery fell $1.19, or 1.3 percent, to $90.81 a barrel by 1653 GMT.
US West Texas Intermediate crude for October delivery recorded $84.45 a barrel, a decrease of $1.28. Trading on the October contract will end on Tuesday, and the most active November contract fell 1.63 dollars, or 1.9 percent, to 83.73 dollars.
Brent and West Texas Intermediate are heading to record the worst quarterly percentage decline since the start of the Corona virus pandemic. Brent crude hit about $139 a barrel in March, its highest level since 2008.
Document showed from the alliance "OPEC+" The group did not achieve the targets for oil production in August, with a deficit of 3.583 million barrels per day, representing about 3.5 percent of global demand for oil.
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It is likely to raise Federal Reserve Interest rates increased by another 75 basis points on Wednesday to curb inflation. These expectations weigh on stocks, which often move in tandem with oil prices. Other central banks will also hold meetings this week, including the Bank of England.
Upload is supported interest rates The dollar, which today settled near a two-decade high against its peers, makes oil more expensive for holders of other currencies.
Brent crude futures for November delivery fell $1.19, or 1.3 percent, to $90.81 a barrel by 1653 GMT.
US West Texas Intermediate crude for October delivery recorded $84.45 a barrel, a decrease of $1.28. Trading on the October contract will end on Tuesday, and the most active November contract fell 1.63 dollars, or 1.9 percent, to 83.73 dollars.
Brent and West Texas Intermediate are heading to record the worst quarterly percentage decline since the start of the Corona virus pandemic. Brent crude hit about $139 a barrel in March, its highest level since 2008.
A document from the “OPEC +” alliance showed that the group did not achieve the goals for oil production in August, with a deficit of 3.583 million barrels per day, representing about 3.5 percent of global demand for oil.