Oil declines as market looks toward US inventory report, Federal Reserve meeting

摘要

New York-Oil futures settled lowered July 28 as traders consolidated positions ahead of US inventory report and a closely watched Federal Reserve Open Market Committee meeting, both due on July 29. NYMEX September WTI settled down 56 cents at $41.04/b and ICE September Brent moved 19 cents lower on the day to $43.22/b. “We are still seeing the oil market respect more of these more recent ranges are not getting any substantial moves until we get past the big risk events of the week,” OANDA senior market analyst Edward Moya said. “For oil, that is the [US Energy Information Administration] weekly numbers and also the Fed rate decision, which is likely to dictate the next major move for the US dollar which will impact all of the commodities.”