Crude Oil Rises As Bitcoin And Gold Fall Ahead Of Fed Decision
Crude oil climbed Monday while Bitcoin, gold and other metals fell as markets positioned for Wednesday’s Federal Reserve rate decision. Brent rose 2.75% to $107.48 and West Texas Intermediate gained 2.51% to $102.56, while Bitcoin traded near $76,718 and Ethereum slipped to $2,478.43, according to BeInCrypto, amid hotter-than-expected US inflation data and higher Fed hike odds.Saudi Arabia’s East-West pipeline outage, fresh Houthi strikes and tensions around Hormuz and Bab el-Mandeb added to supply concerns.