Oil rose sharply ahead of OPEC+ meeting

International benchmarks for crude oil settled the trading session on Tuesday, 4 October 2022 nearly $3/barrel higher as market participants expected OPEC and allies to cut outputs by more than 1 million barrels per day. Meanwhile, the US dollar headed for a fifth-day loss against a basket of currencies.

Brent settled at $91.80/barrel, up $2.94/barrel.

WTI added $2.89 to close at $86.52/barrel.