By Walter Grand in Economy —

Brent crude oil price fell below $87 a barrel for the first time since January 25, 2022

Brent crude oil price fell below $87 a barrel for the first time since January 25, 2022
Photo by Emmaus Studio / Unsplash

Demand for oil is declining. After the Fed meeting, the price of black gold accelerated its fall. U.S. crude oil WTI is trading below $80 a barrel for the first time since January 11.

Due to rising interest rates companies will be forced to cut production and costs. Paying for energy is a big part of the cost. Raising additional financing is becoming more expensive.