Oil Prices Diverge, Market Looking To US Fed

Published on Thursday, 13 Sep 12:08 pm

Benchmark crude oil prices diverged on 12 September, as investors awaited the conclusion of a US Federal Reserve meeting on 13 September for an indication of whether further quantitative easing is planned. WTI prices eased on an unexpected 2mn barrels rise in US crude stocks, while Brent was boosted by a German court’s backing for a Eurozone bailout fund. WTI fell by $0.16/B to settle at $97.01/B, while Brent rose by $0.56/B to settle at $115.96/B.

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