Oil price steady amid prospects of aggressive Fed rate hike

After rising more than 1% in early trade, Brent crude futures settled down 14 cents, or 0.2%, at US$91.41 a barrel. U.S. Texas Intermediate crude, which rose more than $2 earlier in the day, settled up 22 cents, or 0.3% to $89.88 a barrel.

NEW YORK: Oil prices were steady on Thursday as markets weighed the possibility of an aggressive and unforecast rate hike for a steeper rise in energy demand.

After rising more than 1% in early trade, Brent crude futures settled down 14 cents, or 0.2%, at US$91.41 a barrel. U.S. Texas Intermediate crude, which rose more than $2 earlier in the day, settled up 22 cents, or 0.3% to $89.88 a barrel.