FX & CFD trading involves significant risk
Oil fluctuated as Greece struggled to qualify for aid payments and amid speculation the Federal Reserve will announce measures to revive the economy this week.
Futures traded in a $1.26-a-barrel range in New York after Greek Prime Minister Antonis Samaras failed to secure agreement on spending cuts. Traders are focused on the Fed, which starts a two-day policy meeting on Sept. 12. The Fed has completed two rounds of asset purchases known as quantitative easing and may implement a third.
Oil for October delivery traded in a range $95.34 - $96,60 a barrel on the New York Mercantile Exchange. Prices are down 2.5 percent this year.
Brent for October settlement rose 66 cents, or 0.6 percent, to $114.91 a barrel on the London-based ICE Futures Europe exchange. The European benchmark was at a premium of $18.57 to New York-traded West Texas Intermediate crude, up from $17.83 on Sept. 7.
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