Brent and WTI Crude Futures Rebound, Posting Third Consecutive Monthly Gain in September

Oil prices rebounded as negotiations between the US and Iran stalled, while data indicated a tightening US fuel market.

Brent crude futures for November delivery closed at $103.53 per barrel, up 0.9%.

New York crude futures for November delivery closed at $90.42, up 1.2%.

Both Brent and WTI crude futures posted their third consecutive monthly gain in September, with Brent crude rising approximately 14% and New York crude up about 5%; for the third quarter, they gained approximately 42% and 30%, respectively.

Additionally, data from the US Energy Information Administration (EIA) showed that US crude oil inventories unexpectedly increased by more than 920,000 barrels last week, while gasoline inventories fell by over 1.68 million barrels, and distillate inventories also decreased by 2.25 million barrels.

Editor: Fang Jiali