FED comments yesterdayOil stalled as Oil gets close to $79, I had a feeling that the FED would say something yesterday about Intrest Rate hikes being continued and the next rate hike could be .75%. I was concerned about $79 level but I'm not now with $77 Oil.
WTI crude futures steadied around $78.5 per barrel on Thursday after rallying in the previous three sessions, as investors digested the latest Federal Reserve commentary and mixed reports on US crude stockpiles. A chorus of Fed officials reaffirmed their commitment to fighting inflation with more rate hikes on Wednesday, triggering long-held concerns among investors about a possible drag on demand. EIA data on Wednesday also showed that US crude inventories increased last week, in contrast with an API report on Tuesday showing a surprise decline. Meanwhile, the US oil benchmark gained about 7% in the past three sessions as various supply disruptions jolted energy markets, while investors assessed the impact of a European ban on seaborne imports and price caps for Russian oil products that came into effect on Sunday. Optimism around a rebound in Chinese demand also aided sentimen