According to CoinMeta, as reported by FirstSquawk, oil prices have fallen, with WTI crude oil prices dropping by 3.9% to $89.01 per barrel, and Brent crude oil prices falling below $103. Nevertheless, investors are still concerned that high energy costs may continue to push up inflationary pressures. John Williams, the chairman of the Federal Reserve Bank of New York, stated that it might be appropriate to raise interest rates again this year, but he did not indicate any urgency, which led traders to reduce their bets on a rate hike in October. Meanwhile, Federal Reserve Board member Michael Barr continues to suggest that further rate hikes may be necessary.