Oil prices fell on Thursday morning as investors absorbed the decision of the US central bank (the Federal Reserve) to postpone cutting interest rates, while the increase in US crude and fuel inventories cast a shadow over the market.

Brent crude fell by 0.17% to USD 82.46 per barrel, while WTI crude declined by 0.2% to USD 78.34 per barrel.

This decline is due to investors’ expectations that economic growth may decline as a result of higher borrowing costs after the Fed’s decision.

The decline in prices was reinforced by the rise in US crude oil and fuel inventories last week, driven by an increase in imports, indicating an abundance of supplies in the market.

On the other hand, talks on a ceasefire in Gaza are still underway, while the Houth is in Yemen claimed responsibility for an attack on a Greek coal tanker in the Red Sea. Oil markets are closely watching these regional developments, as they may affect oil supplies and the stability of the region.