Global oil prices dropped slightly on February 22 morning, Report informs referring to the auction data.
Markets are evaluating the prospects for demand, waiting for signals from the US Federal Reserve System (FRS) on the rate.
The price of April futures for Brent crude fell by 0.25% to $82.84 per barrel, April futures for WTI decreased by 0.26% to $76.16.
The demand outlook remains one of the main factors for oil traders. In particular, markets on February 22 are waiting for the publication of the minutes of the February meeting of the Fed. The document may contain clues about the regulator’s future plans for monetary policy against the backdrop of still high inflation.
The Fed raised rates 7 times last year. The current rate was raised in February, and in March the markets are waiting for a new increase. The tight policy of the regulator increases the fears of a recession, which affects the forecasts of oil demand.