{"id":46879,"date":"2014-01-29T08:09:03","date_gmt":"2014-01-29T13:09:03","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=46879"},"modified":"2014-01-29T08:09:03","modified_gmt":"2014-01-29T13:09:03","slug":"crude-oil-mixed-while-market-awaits-fed-decision","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/01\/29\/crude-oil-mixed-while-market-awaits-fed-decision\/","title":{"rendered":"Crude Oil Mixed While Market Awaits Fed Decision"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Crude Futures were seen trading mixed on Wednesday, as market participants awaits news from the Federal Reserve (Fed) meeting later in the day with predictions of a further reduction to the central bank\u2019s \u00a0monthly bond purchases.<\/p>\n

The North American West Texas Intermediate (WTI) for March delivery came in 0.10% lower, trading at $97.32 per barrel on the New York Mercantile Exchange at the time of writing. On Tuesday, the contract rose $1.69 to $97.41, the highest since Dec 31.<\/p>\n

At the same time, Brent crude for March settlement climbed 0.08%, at $107.50 per barrel on the London-based ICE Futures Europe exchange. The European benchmark was at a premium of $10.36 to WTI.<\/span><\/p>\n

Crude – US Fuel Supplies<\/span><\/h2>\n

On Tuesday, the American Petroleum Institute (API) reports showed a rise in oil inventories by 4.7 million barrels in the week ending January 24, beating analysts forecast of 2.3 barrels.<\/p>\n

The reports from API also revealed US distillate supplies; including heating oil and diesel, dropped by 1.79 million barrels in the previous week, while gasoline inventories added 363,000 barrels.<\/p>\n

As the market awaits reports from the US Energy Information Administration (EIA) later in the day, investors are expecting to see a rise in supplies by 2.25 million.<\/p>\n

Crude – Federal Reserve Meeting<\/span><\/h2>\n

Members of the Federal Open Market Committee (FOMC) are meeting up later today to continue the two-day policy meeting.<\/p>\n

Market analysts are predicting members of the Federal Open Market Committee will continue to reduce its monthly bond purchases by $10 billion at every meeting to end the stimulus program by this year, despite the recent disappointing non-farm payrolls data for the previous month.<\/p>\n

In the last fed-meeting, the central bank decided to reduce its monthly bond purchases by $10 billion to $75 billion a month. Minutes for the Federal Open Market Committee (FOMC) meeting will be released on Wednesday.<\/p>\n

 <\/p>\n

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The post Crude Oil Mixed While Market Awaits Fed Decision<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Crude Futures were seen trading mixed on Wednesday, as market participants awaits news from the Federal Reserve (Fed) meeting later in the day with predictions of a further reduction to the central bank\u2019s \u00a0monthly bond purchases. The North American West Texas Intermediate (WTI) for March delivery came in 0.10% lower, … <\/p>\n

Continue reading “Crude Oil Mixed While Market Awaits Fed Decision”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-46879","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/46879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=46879"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/46879\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=46879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=46879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=46879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}