The price of WTi crude oil is settling at $90.66

The last time the price closed this low was back on February 16, 2022 when the price closed the day at $90.66.

The high today reached $96.55. The low was at $90.41. The end of year level was at $75.35. Although still $15 from that level, it is better than the $130 high for the year.

Today, OPEC+ underwhelmed the market with a 100K increase in production in September, but the weekly crude stocks increase by 4.467M well above the -0.629M drawdown expected. Moreover, gasoline stocks also showed a small build of 0.163M but was expected at -1.614M.

/inflation