Oil is under intense pressure from the Federal Reserve and prices are losing about 4% in a few days Oil prices fell during these moments of trading, today, Friday, as investors took into account the US Federal Reserve’s latest comments on interest rates amid stable inflation. The two benchmarks settled at multi-month lows on Thursday, with Brent crude futures closing at their weakest levels in history. In January, US crude futures recorded their lowest level in three months. Brent crude futures are on track to achieve a weekly decline of more than 3%, while West Texas Intermediate crude futures are on track to decline by approximately 4% from last week. Fed tightening is pressuring prices Priyanka Sachdeva, chief market analyst at Philip Nova, said that “the possibility of US interest rates remaining high for a longer period” had a significant impact on oil prices this week.” Minutes from the Federal Reserve's latest policy meeting on Wednesday showed that monetary policymakers are skeptical about whether current interest rates are high enough to reduce inflation. Some officials said they would be willing to raise borrowing costs again if inflation rose. However, Federal Reserve Chair Jerome Powell and other monetary policymakers have since said they feel a rate hike is unlikely. #OPINIONLEADER# #trading# #BeginnerTalk# #CrudeOil# #DailyViewTrade#