# Oil eases 1%, reversing rally, on profit taking, interest rate worries | Reuters

> 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.

- Date: 2023-09-28 · published 2023-09-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34277-oil-eases-1-reversing-rally-on-profit-taking-interest-rate-worries-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

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.

## Read by commodity

- WTI: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-rises-us-crude-draws-tight-global-supply-2023-09-28/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.