New York's West Texas Intermediate for June delivery, inched upto US $100.8 in mid-morning trade, and Brent North Sea crude for June moved up to US$109.8, rising amid tensions in Ukraine while investors await the US Federal Reserve's policy meeting later this week, as per Agence France-Presse. Pro-Russian militants in Ukraine on Sunday presented a captured team of eight international observers on a military inspection mission as "prisoners of war."
The Fed meeting that concludes on Thursday in USA will be closely watched for clues about the bank's plans for its stimulus and its outlook on the world's biggest economy and oil consuming nation. Economists expect the Fed to further cut its stimulus program following a string of figures showing the economy is improving. A further tapering will likely boost the US currency, making dollar-priced oil more expensive and dampen demand.
28-Apr-14 
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