Oil prices rebound -

LONDON, Sept 21 (Reuters): Oil prices rebounded from $1 down to $1 up in trading on Thursday, after a Russian ban on fuel exports snapped focus away from Western economic headwinds and back to throttled crude supply to the end of 2023.
Brent futures for November delivery were up $1.02, or 1.09 per cent, to $94.55 a barrel by 1348 GMT. US West Texas Intermediate crude (WTI) climbed $1.27, or 1.42 per cent, to $90.93, the lowest since Sept. 14. Both benchmarks had fallen more than $1 earlier on Thursday.
The Fed on Wednesday maintained interest rates, but stiffened its hawkish stance, projecting a quarter-percentage-point increase to 5.50-5.75 per cent by year-end.
That may dampen economic growth and overall fuel demand, and led to the US dollar surging to its highest since early March, making oil and other commodities more expensive for buyers using other currencies.
Central banks' moves elsewhere also signalled potential pressure on oil prices. The Bank of England mirrored the Fed and held interest rates on Thursday after a long run of hikes, but said it was not taking a recent fall in inflation for granted.
Meanwhile, Norway's central bank raised its benchmark interest rate on Thursday and, in a surprise move, said it would probably hike again in December.
Earlier price falls were limited by continuous concern on tight supply globally entering the fourth quarter, with crude stocks at Cushing - the WTI delivery hub - at their lowest since July 2022 and production cuts continuing by the Organization of the Petroleum Exporting Countries and allies.