Brent crude rebounded from its lowest settlement in more than two months before the U.S. Federal Reserve meets to review the pace of its stimulus measures for the world’s largest economy.
The North Sea grade advanced as much as 1 percent after closing on Oct. 25 at its lowest since Aug. 8. The Federal Open Market Committee, starting a two-day meeting tomorrow, is likely to delay reducing, or “tapering,” monthly bond purchases until March, according to a Bloomberg News survey of economists. Crude production in Libya, holder of Africa’s largest reserves, dropped to about 250,000 barrels a day after labor protests, according to the state-run National Oil Corp.
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