Oil prices slip ahead of US Fed meeting, crude stockpiles seen falling
LONDON (Reuters) -Oil prices slipped on Thursday ahead of an expected rate hike by the Federal Reserve, but found a floor as market participants eyed falling U.S. crude stockpiles and upcoming European sanctions on Russian barrels.
Brent crude dipped 56 cents, or 0.6%, to $94.09 a barrel by 1027 GMT, while U.S. West Texas Intermediate (WTI) crude was down 53 cents, or 0.6%, at $87.84 per barrel.
U.S. crude oil stocks fell about 6.5 million barrels for the week ended Oct. 28, according to market sources citing American Petroleum Institute figures.
At the same time, gasoline inventories fell 2.6 million barrels, more than expected. Official data is due at 1430 GMT.
