Oil Prices Slide as Fed Signals Longer High Rate Environment Oil prices dropped by more than $1 on Tuesday as concerns over prolonged high U.S. interest rates, driven by persistent inflation, led to fears of weakened consumer and industrial demand. Brent crude fell to $82.17 a barrel, and U.S. West Texas Intermediate (WTI) slipped to $78.31 for June. The more active July contract also decreased. The decline follows statements from Federal Reserve officials indicating that more signs of slowing inflation are needed before considering rate cuts. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Traders Increase Bets on September Fed Rate Cut Following Inflation Report READ MORE Asahi vault 30 miles outside NYC added to COMEX approved vault list READ MORE PRICE ALERT: Gold to $2,415 Nearing Record Highs, Silver to $31.50 READ MORE When Could We See $50 Silver? Alan Hibbard on Schwab Network READ MORE Fed Rate Cut Hopes Dampened by Persistent Inflation and Strong Job Growth READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment