Oil prices down over 1% as concerns on Middle East supply ease
Oil prices down over 1% as concerns on Middle East supply ease
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00:00 Oil prices dropped over 1% as investors adopted caution prior to U.S. Federal Reserve policy
00:06 meetings and concerns on the ongoing tension in the Middle East affecting supply from the region
00:12 east. Brent crude futures plunged at 1.5% or $1.39 to $89.09 per barrel, while U.S. West Texas
00:22 Intermediate went down 1.9% at $83.91 a barrel. Both Brent and WTI increased by 3% last Friday.
00:32 The Fed is projected to maintain its interest rates while China will increase its manufacturing
00:37 and services purchasing managers index or PMI report for October within the week.