Oil prices were lower today, following other financial markets lower on worries of an aggressive monetary policy. Service industry activity unexpectedly picked up in November, a strange good news \/ bad news situation that could give the Fed more wiggle room to keep tightening. “Macro-economic jitters about the Fed and what they’re going to do on interest rates are taking over the market,” said Phil Flynn, an analyst at Price Futures group\u201d. Prices had initially rallied earlier in the session on the EU price cap, but its effects will ultimately be limited due to India and China. WTI traded down $3.05 or 3.8% to close at $76.93. Brent traded down $2.89 or -3.4% to close at $82.68.<\/p>\n\n\n\n
Oil prices were lower today, following other financial markets lower on worries of an aggressive monetary policy. <\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n