SINGAPORE: Oil prices retreated in Asian trade on Wednesday following fresh indications of growing oversupply ahead of the US Federal Reserve’s long-awaited decision on interest rates.
After a late technical rally in New York, US benchmark West Texas Intermediate (WTI) for January delivery was trading 26 cents lower at $37.09 by 6 a.m. local time, while Brent crude for January was 19 cents down at $38.26.
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