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A Fresh Week Sees A Fresh Rally

OIL

WTI prints $1.25 above settlement levels, while Brent is the best part of $1.00 better off. The well-documented energy supply issues continue to drive demand for oil-based products, contributing to tighter markets and fresh multi-year highs for crude futures.

  • In terms of OPEC+ matters, BBG sources pointed to 115% compliance during the month of September re: the OPEC+ pact. Elsewhere, the Iraqi oil ministry noted that oil prices > $80bbl represent "a positive indicator," although a spokesperson for the ministry alluded to the need for long term stability in prices.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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