Oil Futures Settle Lower After FOMC Minutes: Report

By Midnight Trader,  January 03, 2013, 03:07:22 PM EDT

Crude oil futures settled lower Thursday, below $93 a barrel, as the dollar strengthened in the wake of the Federal Reserve's Open Market Committee's release of its December meeting minutes, MarketWatch reported.

February crude oil fell 20 cents, or 0.2%, to settle at $92.92 a barrel on the New York Mercantile Exchange.

The FOMC minutes indicated that quantitative easing may be ending this calendar year, said Tariq Zahir, managing member at Tyche Capital Advisors. "This gave an instant bid to the U.S. dollar and started to pressure the energy markets," he said.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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