Oil prices slide as Fed decision looms amid strong dollar
Business
Oil prices slid on Wednesday, with Brent crude down to $107.55 and West Texas Intermediate at $104.11 per barrel.
The dip comes as traders watch for the Federal Reserve's upcoming interest-rate decision, amid a strong dollar and elevated Treasury yields.
US crude inventories rose by 7.1 million barrels last week.
Saudi pipeline shut after drone attacks
Tensions in the Middle East are making things even more unpredictable for oil markets.
Saudi Arabia had to shut down a major pipeline after drone attacks, delaying shipments to some European customers.
With 80 confirmed maritime incidents in the Strait of Hormuz and the wider Middle East since fighting began, refineries are scrambling for backup sources while U.S.-Iran tensions keep risks high.