WTI for July delivery fell $1.15 per barrel to settle at $68.27 per barrel. Brent for Crude for August delivery fell $1.09 per barrel to settle at $73.20 per barrel. Oil fell on the back of significant builds in U.S. crude stockpiles and the Federal Reserve’s hints that rate hikes will continue. Federal Reserve officials paused their interest-rate hikes on Wednesday after 15 months of increases, but signaled they would likely resume tightening to cool inflation. The prospect of additional hikes has inflamed concerns about a demand-reducing recession. Not only did crude oil inventories build so did gasoline and distillate fuels in spite of a decrease in refinery utilization week over week and a significant decrease in in imports.