Oil prices fell, becoming further away from their highest levels in ten months on Wednesday, ahead of the announcement of the Federal Reserve\u2019s decision on the interest rate, amid a state of uncertainty among investors about when interest rates will reach their peak and the extent of this impact on energy demand.<\/p>\n\n\n\n
Prices fell despite a larger-than-expected draw in US oil inventories and weak US shale oil production, indicating tighter crude supplies in the remainder of 2023.<\/p>\n\n\n\n
Brent crude futures fell by slightly more than a dollar to $93.33 per barrel, and in the latest trading fell 80 cents, equivalent to 0.8 percent, to $93.54 per barrel by 0310 GMT. Brent hit $95.96 on Tuesday, its highest level since November.<\/p>\n\n\n\n
US West Texas Intermediate crude futures fell 0.8 percent, or 75 cents, to $90.45 a barrel, after rising to a ten-month high of $93.74 a barrel the previous day.<\/p>\n\n\n\n
Investors are awaiting a set of interest rate decisions from central banks this week, including the US Federal Reserve\u2019s decision on Wednesday, to assess the outlook for economic growth and fuel demand.<\/p>\n\n\n\n
The Federal Reserve is largely expected to keep interest rates unchanged, but the focus will be on its policy path, which is unclear.<\/p>\n","protected":false},"excerpt":{"rendered":"
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