3/21, 8:36 AM (Source: TeleTrader)
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Crude slips 1% as fears over Fed's policy grow

Crude oil prices for future contracts declined 1% on Tuesday, with demand concerns weighing on the global markets as investors anticipated Federal Reserve's decision on its monetary policy going forward.

Tension in the banking industry sparked uncertainty about policymakers' next action, leaving investors in the dark about the meeting's outcome, while Goldman Sachs economists expect Federal Reserve to pause interest rate increases.

For May contracts, West Texas Intermediate (WTI) was down 0.97% to sell at $67.16 per barrel at 3:24 am ET. Brent fell 1.02% to $73.04 for one barrel.

Baha Breaking News (BBN) / AB