Oil prices held their ground on Wednesday after tumbling in the previous session as markets braced for minutes from the U.S. Federal Reserve's December policy meeting. The Fed raised interest rates by 50 basis points (bps) in December after four consecutive increases of 75 bps each. If the Fed intensifie
Oil prices held their ground on Wednesday after tumbling in the previous session as markets braced for minutes from the U.S. Federal Reserve's December policy meeting.
Brent futures for March delivery rose 6 cents to $82.16 a barrel, a 0.1 per cent gain, by 1:23 GMT. U.S. crude fell 2 cents, or 0.03 per cent, to $76.91 per barrel. The dollar weakened after posting big gains in the previous session. A weaker dollar typically boosts demand for oil as dollar-denominated commodities become cheaper for holders of other currencies.
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