Oil falls in price amid actions of US Federal Reserve

Global oil prices on January 10 morning fell on investors’ doubts about the termination of the tightening of monetary policy by the US Federal Reserve System (FRS), Report informs referring to the auction data.

The price of March futures for Brent crude fell by 0.65% to $79.13 per barrel, February futures for WTI decreased by 0.59% to $74.19.

Oil fell as expectations of tighter monetary policy in the US overshadowed optimism about a recovery in demand in China, Bloomberg reports.

The fact is that on January 9, two Fed officials said that the regulator will most likely have to raise the discount rate above 5%, and then hold this level for some time.