Business

High interest rates, strong dollar caps oil at $90 a barrel  

Brent crude dipped on Wednesday ahead of a meeting of the OPEC+ ministerial council, as the market weighed expectations for tighter supply against concerns that high-interest rates could dampen fuel demand.


Crude futures fell 18 cents, or 0.2%, to $90.74 a barrel at press time, while U.S. West Texas Intermediate (WTI) crude fell $89/barrel.


Data late Tuesday showed U.S. job openings rose by the largest amount in more than two years, triggering another sharp rise in Treasury yields.