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Oil recedes on Saudi supply reassurance, investor focus shifts to Fed

“U.S. Treasury yields slipped ahead of an expected interest rate cut by the Federal Reserve at its two-day policy meeting on Wednesday” writes Midwest Communications Inc for While a 25-basis point rate cut is seen as near-certain, investors look to the statement and economic projections from Fed policy makers, given signs of deep disagreements among them.TOKYO (Reuters) – Oil prices cooled on Wednesday as Saudi Arabia said the kingdom had fully restored its oil supply following attacks on its crude facilities although caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges.Still, heightened geopolitical tensions underpinned oil as well as some safe-haven assets such as U.S. bonds.

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