,Brent crude LCOc1 futures settled down US$1.10, or 0.9%, to $121.17 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 fell $2, or 0.7%, to settle at $118.93 a barrel博彩网址平台（www.99cx.vip）是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。博彩网址平台上博彩网址平台会员登录线路、博彩网址平台代理网址更新最快。博彩网址平台开放皇冠官方会员注册、皇冠官方代理开户等业务。
Oil prices settled lower on Tuesday on fears the U.S. Federal Reserve will surprise markets with a higher-than-expected interest rate hike.
Most Fed watchers had expected the U.S. central bank to hike rates by 50 basis points at its meeting on Wednesday. But after Friday's surprisingly strong consumer price index (CPI) data for May, more expect a rate hike of 75 basis points.
Brent crude LCOc1 futures settled down US$1.10, or 0.9%, to $121.17 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 fell $2, or 0.7%, to settle at $118.93 a barrel
"This fear of an even greater basis point hike is driving down equities and oil," said John Kilduff, partner at Again Capital LLC in New York.
Oil prices were pressured by reports that U.S. Senate Finance Committee chair Ron Wyden plans to introduce legislation setting a 21% surtax on oil company profits considered excessive, an aide told Reuters.
The bill would apply a 21% additional tax on excess profits of oil and gas companies with more than $1 billion in annual revenue, the aide said.
Tight supply has been aggravated by a drop in exports from Libya amid a political crisis that has hit output and ports.
Other OPEC+ producers are struggling to meet production quotas and Russia faces bans on its oil over the war in Ukraine.
The U.S. Department of Energy (DOE) also announced the fourth Notice of Sale of 45 million barrels of crude oil from the Strategic Petroleum Reserve.
UBS raised its Brent price forecast to $130 a barrel for end-September and to $125 for the subsequent three quarters, up from $115 previously.
"Low oil inventories, dwindling spare capacity, and the risk of supply growth lagging demand growth over the coming months have prompted us to raise our oil price forecast," the bank said.
Ratings agency Fitch raised its Brent and WTI price assumptions for 2022 by $5 to $105 and $100 a barrel, respectively.
The market awaited weekly reports from the American Petroleum Institute on Tuesday and the U.S. Energy Information Administration on Wednesday for U.S. crude and fuel inventory data.
Six analysts polled by Reuters forecast U.S. crude inventories to have fallen by 1.2 million barrels last week, while gasoline stockpiles rose 800,000 barrels and distillate inventories, which include diesel and heating oil, were unchanged.
On the demand side, China's latest COVID outbreak traced to a bar in Beijing has raised fears of a new phase of lockdowns.
In its monthly report, the Organization of the Petroleum Exporting Countries kept to its forecast that world oil demand will exceed pre-pandemic levels in 2022, but said Russia's invasion of Ukraine and developments related to the coronavirus pandemic pose a considerable risk.环球UG声明:该文看法仅代表作者自己，与本平台无关。转载请注明：博彩网址平台（www.99cx.vip）_Oil prices settle down on fears of Fed and oil profit tax