New York's main contract West Texas Intermediate (WTI) for December delivery slipped to US$96.5 in mid-morning Asian trade, and Brent North Sea crude for December fell to US$109.5.Oil prices fell in Asia on news that the US Federal Reserve has kept its stimulus program unchanged. However, though the Fed Reserve maintained its US$85 bln/month bond-buying scheme, the Fed gave a rosier-than-expected summary of the economy that fuelled rumours it will start winding down soon. As a result, the US dollar strengthened, hurting demand and putting downward pressure on prices.
01-Nov-13 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}