WSJ: OIL FUTURES:Crude Lower As Fed Rate Decision Weighs On Market
LONDON (Dow Jones)--Crude futures are trading lower Friday after a surprise decision by the U.S. Federal Reserve to raise its discount rate spooked the commodity markets and supported the dollar.
"The move has pushed USD higher and hurt riskier assets like commodities and stocks. [It] will be interesting to see if bulls stay in control," particularly because U.S. oil inventory data Thursday weren't supportive of further gains, says James Rilett, senior trader at JDR Commodities, a hedge fund in London.
At 1234 GMT, the front-month April Brent contract on London's ICE futures exchange was 93 cents lower at $76.85 a ...
