Oil prices fall ahead of potential large US rate hike, possible inflation
LONDON (Reuters) -Oil prices fell on Thursday as investors weighed tight supplies against the prospect of a large U.S. rate hike that could stem inflation and curb crude demand.
Brent crude futures for September were down 18 cents to $99.39 a barrel at 0727 GMT after settling below $100 for the second straight session on Wednesday.
U.S. West Texas Intermediate crude for August delivery was at $95.84 a barrel, down 43 cents.
Oil prices have tumbled in the past two weeks on recession concerns despite a drop in crude and refined products exports from Russia amid Western sanctions and supply disruption in Libya.
