NEW DELHI: Oil prices held their ground on Wednesday after tumbling in the previous session as markets braced for minutes from the US Federal Reserve’s December policy meeting.
The Fed raised interest rates by 50 basis points (bps) in December after four consecutive increases of 75 bps each. If the Fed intensifies its rate hikes, that could slow the economy and hamper fuel consumption.
Brent futures for March delivery rose 6 cents to $82.16 a barrel, a 0.1% gain, by 1:23 GMT. US crude fell 2 cents, or 0.03%, to $76.91 per barrel.
