Oil prices tumble more than $4 ahead of potential large US rate hike
LONDON (Reuters) -Oil prices fell more than $4 on Thursday as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.
Brent crude futures for September fell by $4.05 to $95.52 a barrel by 1356 GMT and were on track to finish a third session in a row below $100.
U.S. West Texas Intermediate crude for August delivery was at $91.63 a barrel, down $4.67.
Both contracts hit lows on Thursday which were below the Feb. 23 close, the day before Russia invaded Ukraine, with Brent reaching its lowest since Feb. 21.
