Oil prices continued their trek lower today along with other financial markets. Prices hit two-week lows today on increased worried about the Fed going too far on rate hikes. Adding fuel to the fire is our record-low unemployment numbers which continue to hover at 3.4% and give the Fed some runway to keep rates higher for longer. “The Fed is continuing to come … for inflation and that is translating into fears over lower oil demand down the road because of a possible recession,” said John Kilduff, a partner at investment advisory Again Capital LLC in New York. WTI traded down $.94 or -1.2% to close at $75.72. Brent traded down $1.07 1.3% to close at $81.59.

On Mobile? Click here to download the PDF