Crude oil futures tumble after Powell signals 50 basis point interest rate hike

Crude oil futures tumbled in mid-morning Asian trade April 22, giving up some gains from the overnight session as financial markets turned jittery after US Federal Reserve chair Jerome Powell signaled aggressive interest rate hikes in the months ahead. At 10:40 am Singapore time (0240 GMT), the ICE June Brent futures contract was down 67 cents/b (0.62%) from the previous…