Oil storage facility in Texas
An oil storage facility in Houston, Texas.
  • Crude oil prices are on track to end February lower, for their fourth monthly loss in a row.
  • The Federal Reserve's aggressive interest-rate hikes are weighing on crude benchmarks.
  • But many analysts expect prices to rise again in March as Russia slashes its oil output.

Oil prices are on track to post a monthly loss for the fourth time in a row, as traders stay firmly focused on the prospect the Federal Reserve will keep hiking interest rates.

That potential hit to demand appears to be overshadowing the chances of a jump in appetite for crude as China's economy reopens or as Russia slashes supply. A buildup in US stockpiles is also likely weighing on prices.