top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


27 Jan 2022

Oil Tumbles as Imminent Interest Rate Hikes Sparks Fears among Investors

The Index Today

Oil prices took a tumble on Thursday while the dollar firmed following the Federal Reserve’s decision to tighten monetary policy in the U.S.

Brent crude futures were down by 0.6% to $89.44 per barrel at 0720 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped by 0.6% to $86.77.

Vivek Dhar of Commonwealth Bank said, "It could be a strong U.S. dollar at play after the Federal Open Markets Committee signaled rates will rise." The increase in dollar drove the rise in the U.S. dollar index to approach a five-week high, hitting 96.604.

The OPEC+ is attempting to increase production as global demand for oil recovers from its previous pandemic-induced slump. However, its inability to meet its December targets point towards restrictions in capacity.

Howie Lee of OCBC Singapore said, "Continued supply challenges and mounting Russia-Ukraine tensions continue to support crude oil prices. It is down slightly today but I think it is nothing more than a technical move."

Clay pottery with table linens
bottom of page