Crude oil prices rebounded away from 6-year lows Tuesday as the Federal Reserve readied its interest rate decision.
All eyes will be on the Fed tomorrow amid widespread speculation that policy makers are going to raise interest rates from zero.
January oil climbed $1.04, or 2.9%, to settle at $37.35/bbl on Nymex.
Prices neared their lowest since 2004 on Monday, with recent losses fueled by OPEC’s refusal to stem production.
Gasoline futures were down 1.1% to $1.2419 a gallon, while heating oil prices have tumbled on the warmest US winter in recent memory.
The material has been provided by InstaForex Company – www.instaforex.com