Oil steadies as focus shifts to US stockpiles and Fed’s decision
“Despite some profit-taking ahead of the US Federal Open Market Committee meeting, any dips are expected to be short-lived,” says Kotak’s Head of Commodities Research.
By Yongchang Chin, Bloomberg
Oil steadied after a two-day gain as an industry group flagged a fall in US crude stockpiles, and traders counted down to an interest-rate decision by the Federal Reserve that’ll shape the broader market tone.
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