Oil prices slipped today over the delicate state of economic affairs in the world’s largest oil consumer, as the US Federal Reserve Bank failed to offer stimulus measures.

Investors hoped the bank would launch a third round of bond buys, or quantitative easing, but were disappointed, reported Reuters.

Brent crude fell $1.11 lower at $98.82 a barrel, while in the US it dropped $1.50 to $83.32 a barrel.

Early next week the US Government may announce a new list of countries that will receive exemptions to financial sanctions on oil trade with Iran.