U.S. light, sweet crude for January delivery gained. It fell 42 cents on Monday, its second straight day of losses, on forecasts for warmer weather that will curtail U.S. winter demand for oil.
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Oil Rallied Back Above $88
Oil rose back above $88 a barrel on Tuesday ahead of a keenly-watched meeting of the U.S. Federal Reserve
Oil rose back above $88 a barrel on Tuesday ahead of a keenly-watched meeting of the U.S. Federal Reserve that is widely expected to cut interest rates to steer the world's biggest economy away from recession.
The U.S. central bank is expected to opt for a modest quarter percentage point interest rate cut later on Tuesday as traders said a batch of solid U.S. economic data had eased the need for more aggressive action.
U.S. light, sweet crude for January delivery gained. It fell 42 cents on Monday, its second straight day of losses, on forecasts for warmer weather that will curtail U.S. winter demand for oil.
U.S. light, sweet crude for January delivery gained. It fell 42 cents on Monday, its second straight day of losses, on forecasts for warmer weather that will curtail U.S. winter demand for oil.
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