Oil futures declined on Thursday, pressured after a partial restart of the Keystone Pipeline and strength in the dollar following Wednesday’s Federal Reserve policy announcement. A section of the Keystone pipeline has been restarted following a shutdown last week due to a leak, and “global recession risks increased after a wave of central banks delivered another strong round of tightening,” said Edward Moya, senior market analyst at OANDA. “Oil’s recent rally is running out of steam as risk aversion runs wild.” The U.S. benchmark WTI crude for January delivery CLF23 fell $1.17, or 1.5%, to settle at $76.11 a barrel on the New York Mercantile Exchange.
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