Oil falls by almost 1% after publication of Fed’s Beige Book

Global oil prices fell by almost 1% on April 20 morning after the US Federal Reserve (Fed) issued its Beige Book with comments on the economic situation in the country, Report informs referring to the auction data.

The price of June futures for Brent crude fell by 0.89% to $82.38 per barrel, June futures for WTI declined by 0.98% to $78.46.

In the Beige Book, the regulator said that in March-April, economic activity in the country changed little. Following the release of the comments, according to the CME Group, 83.7% of analysts continue to forecast a 25-basis point hike to 5.25% at the May 2-3 Fed meeting. The rest expect the rate to remain at the current level.