Oil Prices Climb As Traders Await A Statement From The Fed

Crude oil prices moved higher early on Wednesday morning after dropping dramatically at the start of the week. Traders remain on edge as they await a statement from the Fed and keep a close eye on developments in the Middle East. The Fed is expected to keep interest rates unchanged, which would be bullish for oil, with similar expectations from the European Central Bank, after a flash estimate of eurozone inflation suggested it had declined substantially in October. On the bearish side, Brent crude posted its first monthly decline in four months,…