Oil slips, US Fed policy review

Singapore, Apr. 30 (BNA): Oil edged down on Tuesday, while worries about the outlook for U.S. interest rates weighed on the market.

Brent crude futures dipped 10 cents, or 0.11%, to $88.30 a barrel at 0423 GMT, while U.S. West Texas Intermediate crude futures slipped 13 cents, or 0.16%, to $82.50 a barrel, Reuters reported.

On the economic front, investors are on watch this week for the U.S. Federal Reserve’s May 1 policy review, with stubborn inflation pushing out market expectations for any rate cuts, which could bolster the U.S. dollar and hamper oil demand.

H.H