Reported 11 months ago
Oil prices stabilized as traders awaited the Federal Reserve's interest-rate decision to assess the economy and oil demand. West Texas Intermediate fluctuated near $78 a barrel, after rising nearly 3% on Monday following OPEC's decision to increase supply. Despite concerns about soft demand and increasing supply outside OPEC, oil prices are expected to have short-term recovery potential, but supply/demand balances may weaken in the future. The Federal Reserve's decision and ongoing economic growth in China and other emerging economies will impact oil prices going forward.
Source: YAHOO