Singapore, November 03 (QNA) – Oil futures fell early on Thursday as the dollar rose after the Federal Reserve (the US central bank) raised interest rates, but concerns over looming supply risks kept a floor under prices.
Brent crude shed 44 cents, or 0.5%, to $95.72 a barrel, while US West Texas Intermediate (WTI) crude futures retreated 59 cents, or 0.7%, to $89.41.
Both benchmarks settled up more than $1 on Wednesday, aided by another drop in US oil inventories, even as the Fed boosted interest rates by 75 basis points. (QNA)