Crude Oil creeping up, Hold The Fed Meeting

The movement of crude oil prices to trade this afternoon (12/12) recorded a slight increase. Oil apparently still be apart of the movement is limited due to the pressure that comes from the prediction that U.S. crude inventories for last week is expected to rise by 4.27 million barrels.

On the other hand, markets expect that the ongoing Fed meeting today is expected to benefit the U.S. economy, especially in the monetary sector in the short term.

Crude oil futures rose 11 cents to 85.9 dollars per barrel. Meanwhile, Brent crude rose 35 cents to 108.36 dollars per barrel.

Division of Research in Vibiz Vibiz Consulting estimates that the movement of oil will last in limited movement with the support level of 85.38 dollars per barrel and resistant level of 86.82 dollars per barrel.