Overview

• Brent crude and WTI futures experienced mixed movements due to economic and geopolitical factors.
• The Federal Reserve postponed potential interest rate cuts to December, affecting market expectations.
• Increased US crude and fuel stockpiles contributed to oil price volatility.
• Middle East tensions, particularly regarding Gaza, influenced investor sentiment and risk calculations.
• Long-term forecasts from major energy agencies predict limited downside for oil prices in the latter half of 2024.