Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Oil prices decline in advance of additional central bank guidance on interest rates

21 Sep 2023 , 10:39 AM

Ahead of guidance from other central banks on their rate outlooks, oil prices declined in early Asian trade on Thursday after dropping by the most in a month in the previous session on expectations of a U.S. interest rate hike.

Brent futures for November delivery were down 44 cents, or 0.5%, at $89.18 per barrel. West Texas Intermediate crude (WTI) CLc1 in the United States decreased by 49 cents or 0.6% to $89.17.

Interest rates were remained steady by the U.S. Federal Reserve on Thursday, but it hardened its hawkish stance by projecting another rate increase by the end of the year, which could slow economic growth and fuel demand.

The Federal Reserve’s officials continue to predict that the benchmark overnight interest rate would peak this year in the range of 5.50%-5.75%, barely 0.25 percentage points higher than the present level.

Investors will be looking to policy pronouncements for hints on future changes on Thursday because it is highly anticipated that the central banks of Taiwan, Indonesia, and the Philippines would hold the key lending rates steady.

A day after showing signals that it had made progress in addressing Britain’s high inflation issue, the Bank of England will also reveal on Thursday whether it is ending a streak of interest rate increases that dates back to December 2021.

The U.S. energy data released on Wednesday showed that crude inventories decreased last week in accordance with predictions.

According to a weekly report from the U.S. Energy Information Administration (EIA), the high oil exports that led to the drawdown in crude stocks were offset by a decline in petrol and diesel stockpiles due to refiners starting their annual autumn maintenance.

For feedback and suggestions, write to us at

Saudi oil output cut to delay price revision in India

Related Tags

  • crude oil
  • FED
  • interest rates
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account." is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.