Waiting for FED'meeting report boosts oil prices

During today’s trading in Asia, oil prices increased, expecting the outcome of the meeting of the American Central Bank (FED) and the latest report on fuels supplies in USA.

Barrel of the American "light" oil (WTI) for delivery in December went up at mercantile market in New York for 29 cents while the barrel of north American oil of the “brent” type for December delivery at the market in London went up by 38 cents, to USD 86, 41.

- The traders ’focus is obviously on FED – it was stated in the report of Singapore United Overseas bank with estimations that the American central bank will announce the end of the active capital purchase end launched with the objective to support the biggest world economies after the 2008 financial crisis.

- We expect FED to stick to the announced policy of interest rates,i.e. that after the end of the program of quantity ease keep at the low level for some reasonable time – UOB says.

Singapore bank also added FED will probably wait until December so that it would change interest rate guidelines.