Oil settles lower, but pares some losses after Fed decision

Oil prices settled lower on Thursday, though pared some of their earlier losses after the Federal Reserve left interest rates unchanged and left open the possibility of a rate hike before the end of the year.

On the New York Mercantile Exchange, October West Texas Intermediate crude CLV5, -0.36%  settled at $46.90 a barrel, down 25 cents, or 0.5%. It was trading around $46.74 right before the Fed announcement.

November Brent crude LCOX5, +0.04%  on London’s ICE Futures exchange fell 67 cents, or 1.4%, to $49.08 a barrel.

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