The price of oil fluctuates in expectations that the U.S. Federal reserve

The price of oil fluctuates in expectations that the U.S. Federal reserve


The cost of the February futures for North sea petroleum mix of mark Brent has risen to 38,60 USD per barrel. The price of January futures for oil of mark WTI has fallen to 37,08 dollars per barrel.

MOSCOW, 16 Dec. World oil prices during the auction oscillate, as investors are awaiting the outcome of the meeting of the US Federal reserve later on Wednesday, according to AFP.

As at 07.41 GMT the price of February futures for North sea petroleum mix of mark Brent has grown on 0,01% — to 38,60 USD per barrel. The price of January futures for oil of mark WTI have decreased on 0,27% — to 37,08 dollars per barrel.

Today investors are waiting for the decision of the fed meeting, which will be announced later on Wednesday. It is expected that the regulator will, most likely, for the first time since 2006 will increase the base interest rate. The fed chief Janet Yellen has repeatedly hinted at a possible rise in interest rates in the country at the December meeting of the regulator in case of steady growth the country’s economy and reduce unemployment. The rate increase will lead to growth of the American currency, which negatively will affect the price of “black gold”, making it more expensive for owning foreign currency investors.

“Falling prices is not surprising, after the growth that was previously, now the market awaits the rate decision and official data on inventory levels in the United States, told Reuters chief market strategist at CMC Markets in Sydney Michael McCarthy (Michael McCarthy).