INTERACTIVE: Brent hits $90/bbl as EIA shows higher refinery run rates
Sophie Udubasceanu
26-Jan-2022
LONDON (ICIS)–Global crude prices rose with Brent futures surpassing $90/bbl for the first time since 2014 with EIA weekly data showing a draw in distillates and heating oil but higher oil inventories.
Market participants remained fixed on the US Federal Reserve announcement later in the session at 7pm about interest rates. Confirmation of a hike in interest rates could trigger a sell-off as investors price in the impact on economic growth and the US dollar.
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