Oil advanced to the highest level in more than four months before a Federal Reserve policy statement that may signal the U.S. central bank will take additional steps to stimulate the economy of the world’s biggest crude user.
Message Posted: Jan 30, 2013 8:31:46 AM
West Texas Intermediate rose as much as 0.7 percent to the highest since Sept. 17. Crude is poised for a third monthly gain, the longest run since April 2011. The Federal Open Market Committee will renew its commitment to purchasing assets during a two-day meeting that began yesterday, according to a Bloomberg News survey of 44 economists. Economic confidence in the euro area rose more than economists forecast in January, adding to signs that the 17-nation bloc may be emerging from a recession.
“We would expect a status-quo announcement from the Fed with an ac
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