Oil futures slip 1% on worries about more US interest rate hikes
NEW YORK (Reuters) -Oil prices slid about 1% on Monday as strong U.S. economic data had investors bracing for more interest rate hikes from the U.S. Federal Reserve to fight inflation which could also cut oil demand.
Losses were limited by oil supply concerns after Russia halted exports to Poland via a key pipeline.
Brent futures fell 56 cents, or 0.7%, to $82.60 a barrel by 11:18 a.m. EST (1618 GMT). U.S. West Texas Intermediate (WTI) crude fell 44 cents, or 0.6%, to $75.88.
New orders for key U.S.-manufactured capital goods increased more than expected in January while shipments rebounded, suggesting that business spending on equipment picked up at the start of the first quarter.
