WTI Loses Over 3% As Fed Minutes Fail To Calm Markets

Official minutes of the Feb 1st Federal Open Market Committee have been released, showing that a majority of Federal Reserve officials had agreed to slow the pace of interest rate hikes, though high inflation risks remained a serious consideration. Released at 2 p.m. EST Wednesday, the official meeting minutes have been weighing on oil prices, as market anxiety rises over fears that the Fed might maintain higher interest rates than expected. "Almost all participants agreed that it was appropriate to raise the target range of the federal funds rate…