Mumbai, Jan. 29 -- Crude oil futures hovered around $74 per barrel in Asia as traders awaited the FOMC meeting, where the Fed is expected to hold rates at 4.25%-4.5%. Market focus also remained on President Trump's proposed 25% tariffs on Canada and Mexico, with possible new levies on China. Meanwhile, supply concerns from Libya eased after oil exports resumed following brief disruptions due to protests. Investors are closely watching for signals on the Fed's 2025 policy outlook. On MCX, the February 19 contract rose by Rs 61 to Rs 6401 per barrel, with resistance seen at Rs 6415-6440
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