Oil prices flat, above 78 dollars in London

20th September 2010, Comments 0 comments

Oil prices were almost unchanged on Monday as markets sat tight ahead of a key monetary policy meeting in the United States, the world's largest energy consumer.

Brent North Sea crude for delivery in November dipped one cent to 78.20 dollars per barrel in midday London trade.

New York's main contract, light, sweet crude for October delivery, edged up four cents to 73.70 dollars.

Investors will be closely watching the outcome of Tuesday's meeting by the Federal Reserve when its policymakers decide on the course of monetary policy in the world's largest economy.

The Fed is expected to anchor the fragile recovery by leaving interest rates at historic lows and keeping stimulus spending at current levels.

© 2010 AFP

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