Oil above $100 may test fading Fed rate-hike bets

U.S. oil prices topped $100 a barrel on Friday, Oct. 23, as Wall Street’s main indexes closed lower, CNBC and Reuters reported. Earlier Friday, traders had scaled back bets on a Federal Reserve rate hike, Reuters reported, citing Deutsche Bank. In mid-October, hike odds rose with a hotter-than-expected inflation report in which gasoline jumped 9.1%. Read together, the stories may show oil prices and rate-hike bets moving apart as investors watch a Fed meeting.

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