Oil Trades Near Two-Day Low as Supply Gain Counters Fed O
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Oil traded near its highest level in almost three weeks amid concern that protests in Yemen and Libya may threaten Middle East supplies and hopes that the Federal Reserve will renew stimulus efforts.
Futures were little changed after dropping for the first time in six days yesterday. Protesters attempted to storm the U.S. embassy in Sana’a, Yemen, two days after four people were killed in an attack on an American diplomatic mission in Libya. The Federal Open Market Committee may announce additional stimulus measures at the end of a two-day meeting today. U.S. crude inventory levels unexpectedly rose last week, Energy Department data showed yesterday.