Oil Rises ahead of US Fed Meeting

Singapore, Oil prices edged up in early Asian trade on Wednesday ahead of key global central bank meetings this week including the US Federal Reserve, as the market also closely watches the latest developments in the Middle East.

Brent January crude futures rose 0.3 percent, or 28 cents, to $85.30 a barrel, after falling more than 1 percent on Tuesday. Brent December futures settled 4 cents lower at $87.41 a barrel at the contract’s expiry on Tuesday.

US West Texas Intermediate crude futures gained 0.2 percent, or 16 cents, to $81.02 a barrel after losing about 1.6 per cent in the previous session.

Source: Qatar News Agency

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