Home Business OIL PRICES SLIP AHEAD OF US POLICY MEETING

OIL PRICES SLIP AHEAD OF US POLICY MEETING

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Oil prices slipped more than one per cent on Monday, as investors adopted caution ahead of a U.S. Federal Reserve policy meeting and China’s manufacturing data due this week.

Brent crude futures dropped one per cent while U.S. West Texas Intermediate crude was down one point three per cent, at eighty-four point four-one dollars a barrel.

Both Brent and WTI had ended Friday up three per cent after Israel stepped up ground incursions into Gaza.

As developments in the Middle East keep investors on edge and prices volatile, Brent and WTI fell on the week last week, for the first time in three weeks.

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