Oil Updates — Crude down; OPEC sees pre-pandemic demand in 2023; Iran controls oilfield fire

Wed, 2022-09-14 08:29

RIYADH: Oil prices inched lower in early trade on Wednesday as US consumer prices unexpectedly rose in August, giving cover for the US Federal Reserve to deliver another hefty interest rate increase next week.

Brent crude futures were down 0.53 percent at $93.20 a barrel at 07.30 a.m Saudi time.

US West Texas Intermediate crude is priced at $86.90 a barrel, down 0.47 percent.

OPEC sticks to oil demand growth view, sees pre-pandemic demand in 2023

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