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US Crude Oil Knocked Back By Shock Inventory Build As Fed Looms

March 22, 2023

Via: DailyFX

Crude oil markets are trading cautiously like most others on Wednesday in Europe as investors await the United States Federal Reserve’s March monetary policy decision, due later in the global day. On a more market-specific note, a shock rise in US crude oil inventories has knocked prices back.

The Fed is expected to increase borrowing costs yet again in response to stubbornly high inflation, but the extent to which recent banking stresses. embodied by the collapse of two midsize US houses, will weigh on its thinking is very much on market minds.

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