Inflation Fears Push Oil Prices Back Down

Crude oil prices declined ahead of European markets opening as fears about more aggressive rate action by central banks outweighed any possible concerns for tighter supply from OPEC. At the time of writing, Brent crude was trading at $104.50 per barrel, with West Texas Intermediate at $96.86 per barrel, both slightly down on Tuesday’s close. "Risk appetite has cooled over an anticipation that the Federal Reserve would continue to increase interest rates...A pull-back of natural gas prices in Europe also adds uncertainties to the picture of…