Oil edged lower after a four-day rally of almost six per cent as traders wait on Wednesday's U.S. interest-rate decision and guidance as to whether there will be further increases this year.
Oil edged lower after a four-day rally of almost six per cent as traders wait on Wednesday's U.S. interest-rate decision and guidance as to whether there will be further increases this year.
The Federal Reserve is expected to raise borrowing costs to the highest level in 22 years later Wednesday, while at the same time retaining a tightening bias that signals the possibility of another move upward later this year. Higher rates risk slowing the economy and hurting energy consumption.
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