Oil Prices Drop Ahead Of Fed Announcement ...Middle East

After reversing last week’s rout and rising for two consecutive days earlier this week, oil prices were down on Wednesday morning in Asian trade ahead of a Fed update on interest rates and other monetary policy measures. At the time of writing, Brent crude was changing hands for less than $75, with West Texas Intermediate at a little over $69 per barrel, both down modestly from Tuesday’s close, which saw both benchmarks gain around 2% as fears around the banking system began to subside. Last week, oil prices dropped by $10 per…

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