Oil Prices Inch Higher Ahead Of Fed Meeting

Crude oil prices inched up modestly in Asian morning trade today after ending trade on Monday with yet another loss, driven by demand concern. As the latest Fed meeting begins today, however, eyes will be on the U.S., with most analysts expecting the central bank to announce a pause for rate hikes. That would have a positive effect on prices although how durable that effect would be in the context of continued doubts about China’s rate of economic recovery is anyone’s guess. At the time of writing, Brent crude was trading at over $72…