NEW YORK: , Oil prices fell yesterday as investors kept dumping risky assets on worries about weaker growth in emerging markets. Brent crude fell 81 cents to $107.07 by 1857 GMT.
Brent’s premium to US oil was mostly flat, hovering near Friday’s settlement of $11.24. The spread had traded as tightly as $9.47, its lowest price in more than two months, on Friday. US crude oil futures showed some resistance in the $97 to $98 range where prices ended last week.
The US Fed will conclude its regular two-day meeting tomorrow. Analysts said the central bank was intent on cutting the stimulus again in spite of the sharp sell-off of emerging market assets in Turkey, Argentina and elsewhere.
reuters
