WTI Crude oil futures hit around three and half month high, mark near 14% spike in Sep-26
Mumbai, Sept. 10 -- WTI Crude oil futures extended their massive upmove today, hitting around three and half month high and also marking a near 14% spike in Sep-26. The commodity currently trades at $97.73 per barrel, up 1.67% on the day. The US Energy Information Administration of EIA has stated in a latest monthly update that because of the large drawdown in global inventories driven by continued disruptions of crude oil production, oil prices will remain elevated until global oil flows return to normal and oil inventories can be replenished. EIA estimate that global oil inventories fell by an average of 3.9 million b/d in 2Q26 and that they will fall by an additional 3.0 million b/d on average in 3Q26 and 1.7 million b/d on average in 4Q...
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