Oil prices fell today as data showed crude inventories fell less than expected and the Fed hikes rates another 25 bps. The Feds latest rate hike set the overnight interest rate in the 5.25-5.5% range, the highest in 22 years. Crude inventories were down 600K/bbls, compared to estimates of a 2.35MM/bbl draw. Gasoline and diesel stocks also fell, but the draw was less then expected. “The drawdowns weren’t all that spectacular. It was a neutral to bearish report, plus the Federal Reserve rate hike can have a dampening hit on demand and prices,” said John Kilduff, partner at Again Capital LLC in New York. WTI traded down $.85 or 1.1% to close at $78.78. Brent traded down $.72 or -.9% to close at $82.92.