oil prices settled with a gain on wednesday shortly after the federal reserve announced its decision to boost its benchmark fed funds rate by a quarter of one percentage point oil prices and equities rallied in the minutes following the fed announcement as the central bank’s “language around future rate hikes softened which supports the outlook for risk assets” said troy vincent senior market analyst at dtn may west texas intermediate crude clk23 rose 123 or 18 to settle at 7090 a barrel on the new york mercantile exchange