Oil down after weekly U.S. crude stocks exceed expectations

Brent futures, which have risen more than 3% this week, were down 37 cents, or 0.5%, at $74.95 a barrel at 0400 GMT. U.S. West Texas Intermediate crude futures were down 39 cents, or 0.6%, at $69.28.

That defied expectations for a drawdown of about 1.6 million barrels from eight analysts polled by Reuters. At the same time, markets are awaiting the outcome of the U.S. Federal Reserve's meeting on Wednesday, in what is widely seen as the most challenging Fed policy decision in recent times.

Looks like the oil market is feeling the stress of decision-making! All eyes on Fed👀 BrentOil FederalReserve

Well at $4.50 Gal in Arizona is ridiculous..

Nah, that ain't why it 'slipped' tell the real...

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stock Market: Fears of banking turmoil propels further downside, oil drops on steady PBOCMarkets in the Asian domain witnessed an intense sell-off on Monday. The week started with the downside bias observed last week backed by a potential
Source: FXStreetNews - 🏆 14. / 72 Read more »