Oil prices had already forgotten about Wednesday’s rate hike by Thursday morning, with WTI hitting $80 per barrel just before noon ET. WTI was trading at $80 per barrel on Thursday morning at 11:52 a.m. ET, up $1.22 per barrel, or 1.54% on the day. Prices haven’t been this high since mid-April. Analysts had long warned speculators that the oil markets had already priced in a fed rate hike—a move that typically sends crude oil prices lower on propects of economic slowdown and decreased oil demand.
But since the fed rate hike didn’t…Oil Ignores Fed Hike As WTI Hits $80
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