Liam Denning, Columnist

Oil Braces for Fed's Liftoff

They could hurt critical emerging market demand.

December 17, 2015 at 6:28 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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As hikes go, the Fed's latest is more of a gentle stroll, at least for financial markets. Stocks rallied on the news, including high yielders like utilities and master limited partnerships. Even gold went up, though it lost its poise on Thursday morning.

And then there's oil. Having been walloped by news of swelling inventories earlier on Wednesday, crude stirred briefly on the Fed's announcement before thumping its head back onto the canvas.