Oil Prices Dip Ahead of Fed Rate Decision

Crude oil prices dipped on Tuesday as traders await the U.S. Federal Reserve’s decision on interest rates, due out on Wednesday and as bearishness prevails after the latest data out of China. That data included stronger-than-expected growth in industrial activity in China but it was accompanied by slower-than-expected growth in retail sales. This basically failed to change the dominant sentiment on oil markets, with a profit-taking session following last week’s price jump extending into general bullishness. China’s industrial…