Hurricane Francine impacts Gulf oil output as markets await potential Fed interest rate reduction - Anadolu Ajansı

Oil prices held steady on Tuesday in choppy trade as the focus turned to the U.S. Federal Reserve's policy meeting that concludes on Wednesday, while fears of weaker demand in China curbed gains. Prices saw some support from prospects of lower U.

U.S. index futures showed modest fluctuations in premarket trading this Wednesday as Wall Street gears up for a highly anticipated rate cut by the Federal Reserve. CME Group’s FedWatch tool shows traders pricing in a 63% chance of a 50-basis-point cut and 37% odds of a 25-basis-point move.