Oil prices slip as concerns over rate hikes rattle investors
Oil prices slipped in Monday Asian morning trade as concerns about possible further US interest rate hikes continue to rattle investors, though a recovery in Chinese demand and a weaker dollar provided some support.
Brent crude futures fell 15 cents, or -0.18 per cent, to $82.63 per barrel by 0132 GMT. West Texas Intermediate crude futures (WTI) dipped by 9 cents, or -0.12 per cent, to $76.59 a barrel.
Market sentiment was fragile as worries about further monetary tightening by the Fed have been exacerbated by high crude oil inventories in the US, analysts from ANZ Bank observed in a note on Monday morning.
