On February 10, international crude oil futures prices rose and fell as the market weighed a possible aggressive rate hike and a sharp rise in energy demand. Inflation data from the United States and the United States on Thursday hit a record

On February 10, international crude oil futures prices rose and fell as the market weighed a possible aggressive rate hike and a sharp rise in energy demand. After the U.S. and U.S. inflation data released Thursday hit a 40-year high, St. Louis Federal Reserve Bank President Bullard said he now expects to raise interest rates by one percentage point in the next three Fed policy meetings. After Bullard's remarks, interest rate futures markets showed a 60% chance of a 50 basis point rate hike in March, causing U.S. stocks to fall as a result. The Organization of the Petroleum Exporting Countries (OPEC) said on Thursday that global oil demand could rise more sharply this year as the global economy recovers strongly from the pandemic.

WTI crude oil futures for March 2022 shipments rose $0.22/b (0.25%) at $89.88/b; Brent crude futures for April 2022 delivery fell $0.14/b (-0.15%), settling at $91.41/b. Brent-WTI spread $1.53/b, narrowing by $0.36/b from the previous day.