Oil prices rose slightly on Thursday.
A barrel (159 liters) of North Sea Brent for delivery in February last cost 73.69 US dollars. That was 30 cents more than the day before. The price of a barrel of US WTI for delivery rose 51 cents to $71.09.
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Oil prices made up for their previous day’s losses. As expected, the US Federal Reserve lowered the key interest rate by 0.25 percentage points. However, a changed interest rate outlook triggered significant market reactions. The new forecast assumes further easing next year of just 0.50 percentage points – compared to 1.00 points in the September forecast.
Oil prices were impacted by the dollar exchange rate, which rose significantly after the interest rate decision, as crude oil is traded in dollars. A countermovement began in oil prices on Thursday. Finally, the dollar also gave up some of its previous day’s gains. In addition, oil prices were supported by the friendly mood on the stock markets.
NEW YORK/LONDON (dpa-AFX)