Oil dips as caution about data-heavy week offsets Mid-East war boost
SINGAPORE – Oil prices slipped $1 a barrel on Monday as investors adopted caution ahead of the Fed policy meeting and China’s manufacturing data later this week, offsetting support from geopolitical tensions in the Middle East.
Brent crude futures dropped 98 cents, or 1.1%, to $89.50 a barrel by 0001 GMT while U.S. West Texas Intermediate crude was at $84.54 a barrel, down $1, or 1.2%.
