Oil Prices Set for Another Weekly Loss as Traders Focus on U.S. Interest Rates

Crude oil prices are on the slide again this week, with Brent set to end the week with a loss of some 3%, according to Reuters, and West Texas Intermediate on its way to shed about 4% unless a last-moment reversal happens by the end of the day. Oil benchmarks have been trading at the lowest levels in about three months, according to Bloomberg, as traders remain fixated on U.S. interest rates. There has been no good news there, with the Fed signaling current rate levels are necessary to keep inflation in check, with…