![After a U.S Fed governor said there was no need to cut interest rates quickly, crude oil fell](https://market-tracker.in/wp-content/uploads/2024/02/pngtree-3d-rendered-concept-oil-pump-refinery-with-crude-oil-barrel-image_3787694-600x359.jpg)
After a U.S Fed governor said there was no need to cut interest rates quickly, crude oil fell
At 0212 U.S. West Texas Intermediate crude futures were down 25 cents, or 0.3%, at $78.36, while Brent crude futures were down 25 cents, or 0.3%, at $83.42 a barrel.Longer-term higher interest rates reduce economic growth and hence reduce demand for oil. Following Waller’s remarks, oil benchmarks lost part of their Thursday gains. As fighting…