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Oil drops 3 pct as US supplies swell, Fed hikes rates - Reuters
Reuters | Oil drops 3 pct as US supplies swell, Fed hikes rates Reuters Higher U.S. rates are expected to support the dollar, which should pressure oil prices, making oil costlier for holders of other currencies. The dollar firmed modestly after the rate rise. Based on interest rate futures markets, traders expected a ... Fed Rate Hike Bad Timing for Crude Oil Oil nears 11-year low on big US supply build; Fed awaited |
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