Oil prices lower by more than 5% of the solution fed at the rate of

Oil prices lower by more than 5% of the solution fed at the rate of


According to the auction, the cost of the February futures for North sea Brent blend had dropped to 37,44 dollars per barrel, the cost of the January futures for WTI crude oil fell by more than 5% to 35,30 USD per barrel.

MOSCOW, 16 Dec. World oil prices moved lower on Wednesday and fell by more than 5% after the announcement of the decision of the American regulator at the basic rate, according to AFP.

As at 22.38 GMT the price of February futures for North sea petroleum mix of mark Brent fell on 3,33% to 37,44 dollars per barrel. The price of January futures for WTI crude oil fell from 4.48% to 35,68 $ per barrel; earlier it fell more than 5% to 35,30 USD per barrel.

The U.S. Federal reserve on Wednesday after the latest meeting for the first time since 29 June 2006 has raised the benchmark interest rate to 0.25-0.5% per annum with a record low of 0-0,25%,. Raising rates supported the U.S. currency, which, in turn, put pressure on the price of “black gold”.

The fed last raised the base rate 29 June 2006. In 2007-2008, the regulator gradually reduced rate until, until it reached the lowest level of 0-0. 25% in December 2008.