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Crude oil prices jump again and US stocks slip ahead a decision from the Fed on interest rates
['Associated Press']
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Crude oil prices jump again and US stocks slip ahead a decision from the Fed on interest ratesNEW YORK (AP) – Oil prices are back to jumping, while the U.S. stock market slips ahead of a Federal Reserve decision on what to do with interest rates.
Oil prices – which had eased from last week’s the two-month high – rebounded as a brief pause in fighting in the Iran war was shattered.
Markets are also waiting for the Federal Reserve’s latest decision on interest rates, which comes later Wednesday.
Elevated oil prices since the war in Iran began in late February has contributed to higher prices for just about everything.
In Australia the S&P/ASX 200 added 1% to 9,038.60 after the government reported that inflation has remained moderate, relieving pressure on the central bank to raise interest rates.