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Crude-oil futures held their ground below $86 a barrel Tuesday, with traders contemplating the outcome of decisions this week from the world’s main oil producers on production and the U.S. central bank on monetary policy, as well as data on petroleum supplies.
Crude-oil futures held their ground below $86 a barrel Tuesday, with traders contemplating the outcome of decisions this week from the world’s main oil producers on production and the U.S. central bank on monetary policy, as well as data on petroleum supplies.
As quoted in market news:
Market expectations have the FOMC opting for some additional purchases, and so some further expansion of the Fed balance sheet may already have been discounted by the market. That said, there is some potential for a robust expansion in the Fed balance sheet that could weaken the dollar and motivate risk-on trade across a range of commodities, including crude oil.
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