Crude Settles Above $84
NEW YORK--U.S. crude oil futures prices rose Tuesday along with the euro and global stock markets as investors look to the Federal Reserve rate-setting meeting for further stimulus measures.</br></br>Light, sweet crude for July delivery recently rose gained $0.76 per barrel, or 0.91% to $84.03.</br></br>Oil prices were boosted early in the trading session by gains in the euro, which recently traded at $1.2689 from $1.2575 Monday. Investors are holding on to slim hopes that the U.S. central bank will enact a new round of monetary stimulus as it begins its two-day meeting Tuesday.</br></br>"A few market participants are still waiting and hoping for the U.S. Fed to trigger a new round of something that can boost global markets," said Olivier Jakob, an energy analyst at Petromatrix.</br></br>Any action by the Fed would likely put pressure on the U.S. dollar, which boosts crude oil by making it cheaper for buyers in other currencies.