• The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

  • Web of dependency

    Zupta defenders are playing cat and mouse with ratings agencies, says Solly Moeng.

All data is delayed
See More

Oil dips ahead of Fed meeting

Sep 11 2012 07:58

Singapore - Oil prices slipped in Asian trade on Tuesday as sentiment took a hit after an unexpected decline in US consumer credit, analysts said.

New York's main contract, light sweet crude for delivery in October fell 29 cents to $96.25 a barrel and Brent North Sea crude for October delivery was seven cents lower at $114.74.

The US Federal Reserve reported consumer credit fell in July after 10 months of gains, raising concerns about confidence while unemployment remains high in the world's largest economy and oil consumer.

Investors are now focusing on a Fed policy meeting starting on Wednesday, with expectations high that it will announce a new round of stimulus measures to boost the struggling economy.

Analysts said the Fed could strengthen its declared commitment to its near-zero interest rate, easy-money stance, or possibly go as far as approving a third round of bond purchases known as quantitative easing.

"Some investors believe that more indications of an economic slowdown in the United States have increased the likelihood that the US Federal Reserve's two-day policy meeting ending on Thursday will result in a third round of bond buying," Phillip Futures said in a report.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

commodities  |  markets  |  oil



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote