Oil prices end with a loss as U.S. supplies post a weekly climb, Fed raises rates

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Oil futures ended lower on Wednesday after the Energy Information Administration reported a second straight weekly rise in U.S. crude inventories. Oil prices extended their decline after the Federal Reserve announced its decision to lift the fed funds rate by 75 basis points, the largest hike in almost three decades. West Texas Intermediate crude for July delivery CLN22, +0.85% fell $3.62, or 3%, to settle at $115.31 a barrel on the New York Mercantile Exchange, the lowest front-month finish in two weeks, FactSet data show.

This article was originally published by Marketwatch.com. Read the original article here.

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