Oil inched lower on easing supply concerns; FED meeting in focus.
International benchmarks for crude oil ended the trading session on Tuesday, 31 October 2023 slightly lower on a survey report that OPEC crude oil output rose by 180,000 barrels per day
International benchmarks for crude oil ended the trading session on Tuesday, 31 October 2023 slightly lower on a survey report that OPEC crude oil output rose by 180,000 barrels per day in October. Besides, investors adopt a cautious stance ahead of the Federal Reserve (FED) meeting on Wednesday.
Brent futures for December delivery, which expired on Tuesday, dropped 4 cents to close at $87.41/barrel.
WTI for December delivery dropped $1.29 to settle at $81.02/barrel.