On December 17, 2022, the price of West Texas Crude Oil closed on Friday (Dec. 16), plunging $1.82 amid concerns that the US Federal Reserve’s (Fed) acceleration in raising interest rates to curb inflation will push the economy into recession. . which will affect the demand for oil
West Texas crude oil contract Delivered in Jan. The stock, which traded on Nymex, was down $1.82, or 2.4%, at $74.29 a barrel. Brent crude futures fell $2.17, or 2.7%, to settle at $79.04 a barrel.
