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 The $10 Trillion Defense Dilemma: Calls for Doubling NATO Defense Spending READ MORE As Gold Hits $2,500, All Eyes Turn to Fed's Next Move READ MORE Dollar Rises as Geopolitical Tensions Mount; Oil Prices Climb Amid Middle East Concerns READ MORE Powell Says Recent Inflation Numbers Haven’t ‘Really Changed the Overall Story’ READ MORE Gold Crosses $2,500 Threshold in Volatile Market READ MORE Add a Comment Cancel replyYour email address will not be published.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