Brent slips towards $109 on Fed policy concerns

Brent crude prices slipped towards $109 a barrel on uncertainty over when the U.S. Federal Reserve will scale back its bond-buying program, but unrest in Egypt and reduced oil product supply from Libya kept a floor under prices.

Investors are waiting on minutes from the U.S. central bank’s latest policy meeting, due Wednesday, which could provide new clues on when it plans to taper its monthly $85 billion in asset purchases. Many believe tapering could begin next month.

Brent currently trading at $ 109,19 with Crude at $ 106,20.