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

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Oil Prices Drop Ahead Of Fed Announcement
source : OILPRICE ( Middle East ) () 27
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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