Oil Prices Rise Ahead Of Fed Interest Rate Decision

Slowing inflation in the United States and China’s determination to jump-start a struggling economy after the reopening pushed oil prices higher early on Wednesday as the market awaits Fed’s rate decision and the weekly report on U.S. oil inventories. As of early morning European trade on Wednesday, the U.S. benchmark, WTI Crude, was up by 1.12% at $70.20. The international benchmark, Brent Crude, was trading at $75.20, up by 1.22% on the day. Oil prices were slightly higher early on Wednesday in Europe despite an estimate from the…