Oil Stable as Market Awaits Fed, OPEC Decisions

Oil Stable as Market Awaits Fed, OPEC Decisions
Oil product tankers sail along Nakhodka Bay near the port city of Nakhodka, Russia, on Aug. 12, 2022. Tatiana Meel/Reuters
Reuters
Updated:

LONDON—Oil prices were broadly stable as the market is looking towards a meeting of OPEC and its allies as well as a Federal Reserve rate decision and U.S. government data on crude and fuel stockpiles on Wednesday.

Brent crude futures dipped 11 cents, or 0.1 percent, to $85.35 a barrel at 0949 GMT. West Texas Intermediate (WTI) U.S. crude futures rose 8 cents, or 0.1 percent, to $78.95 a barrel.