Crude Oil Plunged as Sentiment Weighed Down by Rate Hike Forecasts Next Year, Rise in Cushing Stockpile

Market sentiment diminished as the Fed signals three rate hikes in 2017, up from two projected previously. The Fed, as widely expected, increased the policy rate by +25 bps in December. The accompanying statement delivered a more hawkish tone, indicating solid growth in the job market. The latest dot-plot was the most eye-catching...

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/crude-oil-plunged-as-sentiment-weighed-down-by-rate-hike-forecasts-next-year-rise-in-cushing-stockpile-2016121533978/