Oil prices stabilized today as markets consider the impact of an unexpected and sharp interest rate hike on increased energy demand.
After rising more than one percent in early trading, Brent crude futures only rose 14 cents, or 0.15 percent, to reach $91.41 a barrel.
As for US crude futures, they rose 22 cents, or 0.3 percent, to settle at $89.88 a barrel, following rising two dollars earlier in the day.
Today’s data showed that inflation in the United States rose to its highest level in 40 years.
