Oil prices slightly increased after unexpected rise in U.S. crude stocks, indicating weak demand resulting from recession and disappointing Chinese economic data. Brent crude dipped 0.4% to $74.01 a barrel, whereas U.S. West Texas Intermediate (WTI) crude decreased by 0.4% to $69.13 a barrel. The increase in oil stocks contradicts the average estimates for a decline. The Federal Reserve meeting, which has no pre-determined interest rate hike on the table, is being closely watched by market participants.
