• Dollar gains as traders prepare for higher US interest rates
  • The Federal Reserve hikes interest rates by 75 basis points
  • EU embargo on Russian oil to begin December 5

NEW YORK, Nov 3 (Reuters) – Oil prices slipped about 2% on Thursday as China stuck to its zero-COVID policy and a hike in US interest rates pushed the dollar higher and fears of a global recession that would reduce fuel demand.

However, losses were limited by concerns over tight supply.

Brent futures fell $1.49, or 1.5%, to $94.67…

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