Oil Slips on Demand Fears, Market Awaits Fed Decision

Pipelines run down the deck of Hin Leong's Pu Tuo San VLCC supertanker in the waters off Jurong Island in Singapore, on July 11, 2019. Edgar Su/Reuters

LONDON—Oil prices edged lower on Wednesday following fresh indications of weak demand, and as the market awaited a crucial interest rate decision by the U.S. Federal Reserve.

Brent crude futures, which have risen by almost 3 percent this week, were down 30 cents, or 0.40 percent, at $75.02 a barrel at 1026 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 29 cents, or 0.42 percent, at $69.38.