Weekly Crude Oil Review: WTI futures see volatile moves, test one-month low
Mumbai, Oct. 3 -- WTI Crude oil futures slipped in volatile trades as investors weighed recovering Middle East energy flows against the continued impasse in US-Iran negotiations. Oil extended its rally for a third consecutive month in September, with WTI gaining around 5% and Brent rising about 14%, supported by geopolitical tensions, tight fuel markets and persistent supply concerns. The third quarter was even stronger, with crude rising almost 30% after starting near $70 per barrel, following the extraordinary 75% surge in Q1. However, these gains gave away at the start of October as WTI futures tested one-month low mark under $90 per barrel. Overall sentiments are thus cautious. Meanwhile, Crude oil inventories in the United States saw a...
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