Oil Prices Dip as Russian Port Restarts, Fed Rate Hikes Loom
Update: 2025-11-17
Description
Oil prices experienced a dip today as a key Russian export port resumed operations, alleviating concerns over potential supply issues. Brent crude and U.S. West Texas Intermediate futures both saw declines. The resumption of shipments at Novorossiysk, following a storm-induced halt, contributed to todays price adjustments. Additionally, the market is closely monitoring the U.S. Federal Reserves interest rate decisions, which could impact oil demand. Lastly, a surprising increase in U.S. crude oil stockpiles added downward pressure on prices.
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