Oil Prices: Ukraine, the Fed, and a $5 Range

Oil prices dipped as markets brace for the Fed's interest rate decision and assess the impact of Ukrainian attacks on Russian refineries, which have slashed Russian output to pandemic-era lows. Despite geopolitical tensions, increased OPEC+ supply and rising tanker earnings are creating opposing pressures, leaving prices stuck in a tight range. A larger-than-expected rate cut by the Fed could shake things up, while a significant drop in U.S. crude inventories adds another layer to the complex market dynamics. Hosted on Acast. See acast.com/privacy for more information.