Brent crude oil gained modestly on Wednesday morning as investors remained hopeful that the US Federal Reserve would continue its stimulus plan and European Union leaders would reach a deal with Cyprus regarding the conditions of its bailout.
The commodity traded at $108.07 at 10:40 GMT on Wednesday morning.
According to CNBC , the US Federal Reserve is expected to continue its $85 billion bond buying stimulus plan until the US economy is well on its way to recovery.
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