Oil Updates — crude rises ahead of Fed meet as Middle East conflict rages

NEW DELHI: Oil prices edged up in Asian trade on Wednesday ahead of key meetings of global central banks this week, including the US Federal Reserve, while the market closely watched the latest developments in the Israel-Hamas conflict, according to Reuters.

Brent January crude futures rose 0.8 percent, or 66 cents, to $85.68 a barrel by 10:26 a.m. Saudi time, after falling more than 1 percent on Tuesday. Brent December futures settled 4 cents lower at $87.41 a barrel at the contract’s expiry on Tuesday.

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