Oil Prices Fall On Fears Of Further Interest Rate Hikes From The Fed

Despite rising earlier this week, crude oil prices are set to end the week with a loss, largely driven by concern that the Federal Reserve is not done with aggressive rate hikes. Both Brent crude and West Texas Intermediate were down in Asian pre-noon trade today, Reuters noted, although the decline was minor, at 0.75 percent. It also quoted economic data from the United States, namely the latest producer price index report, which gained 0.7 percent in January after declining 0.2 percent in December. The PPI report followed the latest consumer…