Crude oil prices tumbled today following the announcement by the Federal Reserve on interest rates.

Earlier today the Federal Reserve said it would lower interest rates by a quarter percentage point.

CNN reports: “US light crude for June delivery fell $2.17 cents to settle at $113.46 a barrel on the New York Mercantile Exchange. Just before the central bank’s announcement, oil was 93 cents lower at $114.70 a barrel.

All eyes are on Ben Bernanke and the Federal Reserve today, the big question being: Will there be another Fed rate cut?

Just about everyone is predicting another rate cut, but will this rate cut be the last for a while?

CNN says “trading in futures markets predicts the Fed will cut its key fed funds overnight lending target by a quarter-point, to 2%, and hold the line there in coming months.”