Overview

• Brent and WTI edged lower on Sept. 19 as traders focused on soft U.S. consumption indicators and oversupply signals.
• U.S. EIA data showed a sharp crude draw alongside a 4 million‑barrel jump in distillates, reinforcing concerns about fuel demand.
• The Federal Reserve cut rates by 25 basis points and indicated further easing this year, though markets had largely priced in the move.
• Australia lowered its cap on Russian crude to $47.60 a barrel and sanctioned 95 additional tankers tied to the shadow fleet to curb Moscow’s oil revenue.
• Supply risks persisted with Reuters reporting Transneft warned producers of potential output cuts after drone attacks, even as planned OPEC+ increases and ample inventories pressured sentiment.