The price of oil, as oil spectators are expecting are suppose to go down due to the sudden Federal Rate cut. But in Asia, as recorded, oil price is still higher in morning trading. Will the oil price stay the same or will go lower after a day? Find out.
In morning trade, New York's main contract, light sweet crude for delivery in March, was four cents up at $89.25 a barrel.
The February contract, which expired Tuesday, had closed 72 cents lower at $89.85 in New York overnight.
Brent North Sea crude for March delivery was seven cents higher at $88.52 a barrel.
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