NEW YORK, Jan. 28 (Xinhua) -- Crude futures rose slightly Monday as investors expected the Federal Reserve might cut rates this week.
Crude prices traded below 90 U.S. dollars a barrel Monday morning after the Commerce Department reported sales of new homes in December fell by 4.7 percent.
Futures reversed earlier losses to end higher as traders brushed off recession concerns ahead of the expected Fed rate cut.
Light, sweet crude for March delivery rose 28 cents to 90.99 dollars a barrel on the New York Mercantile Exchange.
Crude prices traded below 90 U.S. dollars a barrel Monday morning after the Commerce Department reported sales of new homes in December fell by 4.7 percent.
Futures reversed earlier losses to end higher as traders brushed off recession concerns ahead of the expected Fed rate cut.
Light, sweet crude for March delivery rose 28 cents to 90.99 dollars a barrel on the New York Mercantile Exchange.
