U.S. benchmark crude oil prices are expected to resume their march towards triple digits as stock markets respond to improved economic data in the U.S. and China, according to CNBC’s latest oil market sentiment survey.
January U.S. Non-farm Payrolls released on Friday and this week’s U.S. Federal Reserve policy meeting will set the tone for oil markets with investors looking for more evidence that the economic recovery is gaining momentum.
Most economists polled in late January by Reuters expect the Fed’s ultra-loose monetary policy to stay in place well into next year despite the modest growth forecast for the U.S. economy.
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