(MENAFN- Trend News Agency) Oil prices ended mixed on Tuesday as traders awaited a key
policy decision from the Federal Reserve and the latest data on
U.S. fuel stockpiles, trend reports citing xinhua .
The West Texas Intermediate (WTI) for March delivery rose 97
cents, or 1.25 percent, to settle at 78.87 U.S. dollars a barrel on
the New York Mercantile Exchange. Brent crude for March delivery
lost 41 cents, or 0.48 percent, to close at 84.49 dollars a barrel
on the London ICE Futures Exchange.
'Headwind is being generated by generally negative market
sentiment ahead of this week's numerous central bank meetings and
by the persistently high Russian oil exports,' Carsten Fritsch,
energy analyst at Commerzbank Research, said in a note Tuesday.
The Fed is widely expected to raise interest rates by 25 basis
points when concluding a two-day policy meeting on Wednesday and
the European Central Bank will meet on Thursday.
The U.S. Energy Information Administration will release its
weekly petroleum status report on Wednesday.
MENAFN31012023000187011040ID1105505193
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.