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Oil futures eased about 1% on Sept. 28 as traders took profits after prices hit 10-month highs.
Some investors also worried that high interest rates could weigh on oil demand. WTI fell $1.97 on the session.
The pullback reflects profit-taking rather than a change in supply, so the underlying tight-market backdrop remains. Rate worries are a demand-side risk for energy and the broader commodity complex.
reuters.comScott DisavinoSep 28, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
