Oil prices rise slightly on supply tightening expectations

Traders’ concerns about yesterday’s interest rate lift from the US Federal Reserve are overshadowed by expectations of a tightening in supply from the world’s largest oil producers.

Oil tankers are at anchor. Oil prices fell on Wednesday as the US Federal Reserve raised interest rates by 25 basis points to 5.25-5.50%, leaving the door open for another hike at the next rate meeting. | Photo: Tatiana Meel

by marketwire

Oil prices rise slightly on Thursday.

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