Baku, Azerbaijan, Dec.15
By Leman Zeynalova – Trend:
World oil prices have started to rise again after the decline on Dec.14 due to the decision of the US Federal Reserve to increase its benchmark interest rate.
The price of February futures for Brent crude oil rose by 0.50 percent and stood at $54.17 per barrel as of 03:25 EST. This is while the price of January futures for the West Texas Intermediate (WTI) oil increased by 0.04 percent to $51.06 per barrel.
The US Federal Reserve on Dec.14 raised interest rates for the first time in a year, and only the second time since the 2008 financial crisis.
Fed chairwoman Janet Yellen announced a 0.25 percent increase in the benchmark rate to 0.50-0.75 percent, and predicted three further rates increase in 2017.