Brent Expecting FOMC Results that will paint the path of the future.

On Tuesday, March 15, oil trading ended with a decline. A barrel of Brent fell 6.85% to $98.69. During the Asian session, the Price dropped to $97.42.

Market participants are following the development of Russian-Ukrainian negotiations and US attempts to increase supplies from Venezuela and Iran. Also in the spotlight are the lockdowns introduced in China due to the outbreak of COVID-19 in the country.

On Wednesday, March 16, at the auctions in Asia, oil is traded in a slight plus. The price recovered by 2% to $100 per barrel. Now the price is at an important support. If buyers can keep the price above $100 per barrel, then the morning recovery will continue. If the dollar continues to rally after the US Federal Reserve meeting and Powell's speech, then the price of Brent risks falling to 95.85.