A look at the morning’s market action
has raised interest rates six times this year, and is widely expected to announce another rate hike on Dec. 7, the Globe’s Mark Rendell reports.
Crude prices were weaker, adding to the previous session’s declines, after reports that G7 countries are considering a price cap on Russian crude above current trading levels. Reuters reports that the G7 is looking at a cap on Russian seaborne oil at $65-$70 a barrel, according to a European official, though European Union governments have not yet agreed on a price. A higher price cap could make it attractive for Russia to continue to sell its oil, reducing the risk of a supply shortage in global oil markets.
In other commodities, gold prices rose above the key $1,750 level after minutes of the U.S. Federal Reserve’s latest policy meeting signalled slower interest rate hike.
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