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Oil Rises Ahead Of Fed Meeting As Middle East Conflict Persists

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Oil prices edged up in early Asian trade on Wednesday ahead of key global central bank meetings this week including the U.S. Federal Reserve, as the market also closely watched the latest developments in the Israel-Hamas conflict.

Brent January crude futures rose 0.3%, or 28 cents, to $85.30 a barrel by 0330 GMT, after falling more than 1% on Tuesday. Brent December futures settled 4 cents lower at $87.41 a barrel at the contract’s expiry on Tuesday.

U.S. West Texas Intermediate crude futures gained 0.2%, or 16 cents, to $81.02 a barrel after losing about 1.6% in the previous session.

Read the full story on Reuters here.