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How did the decision of the US Federal Reserve affect oil prices?


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Oil prices rose in trading today, Thursday, after the US Federal Reserve (central bank) raised interest rates by 25 basis points, which led to a depreciation of the dollar.

By 09:14 Moscow time, futures for US West Texas Intermediate crude rose 0.58% to $76.58 per barrel.

Brent futures rose 0.45% to $83.21 a barrel, according to Bloomberg data.

In the foreign exchange market, the dollar index, which measures the value of the US currency against a basket of major currencies, fell 0.29% to 100.19 points.

The US Federal Reserve has vowed to “continue to increase” the cost of borrowing as part of the fight against inflation.

Source: RT + Bloomberg

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