Crude oil futures edge lower as market consolidates ahead of US Fed interest rate decision

摘要

Crude oil futures finished a volatile session lower Sept. 19 as market jitters ahead of a key US Federal Reserve interest rate decision offset persistent supply anxiety. NYMEX October WTI settled 28 cents lower at $91.20/b and ICE November Brent dipped 9 cents to $94.34/b. “The tape is starting to smell of recession trades,” TD Securities analysts said in a Sept. 19 note. “Price action in risk markets has been benign, but steepening yield curves, rising oil prices and inflation persistency and are raising the risk of a hard landing.”