WTI crude oil is trading flat near $85 a barrel this morning and awaits news that the Federal Reserve will signal a new round of stimulus measures for the US economy later today. Latest WTI Oil Price US Light crude oil futures for October 2011 delivery was trading at $84.98 a barrel, 08.45 GMT this morning in electronic trading on the NYMEX. Financial markets were braced for a keynote speech from Ben Bernanke at Jackson Hole on Friday, amid hopes that he could unveil new measures to kickstart the sluggish American economy. All eyes will be on the US Federal Reserve chairman when he steps up to deliver his annual speech in the remote resort in the mountains of Wyoming. Last year he used the forum to fire the starting gun for a second round of quantitative easing. “We’re just biding our time before tomorrow. There’s some expectation that we’re going to have something come down the pipe–which is why we’re up this week–but I think there’s going to be disappointment.” said Matt Smith, an oil analyst with Summit Energy.

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