Mumbai, Sept. 30 -- Crude oil fell below $89 per barrel on Wednesday, extending the previous session's losses as improving Middle East energy flows and another major release of US emergency reserves eased supply concerns. Despite the pullback, crude remains on track to gain more than 5% in September, while prices surged nearly 30% in Q3 after a roughly 75% rally in Q1, driven by geopolitical tensions, supply disruptions and concerns over Strait of Hormuz flows. US crude inventories also rose by 1 million barrels last week, adding to the bearish pressure. MCX October crude oil futures traded 1% lower at Rs 8,585 per barrel.
Published by HT Digital Content Services with permission from Capital Market....