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Crude prices pulled back after WTI and Brent hit their highest levels in more than a year on Sept. 28.
WTI last fell 2.09% to $91.72 after touching $95.03 earlier in the session. Cushing stocks at 22 million barrels were the lowest since July 2022.
The retreat from the peak is a short-term correction and does not change the tight supply outlook from OPEC+ cuts. Energy costs remain elevated for feed producers and transport.
cnbc.comLee Ying ShanOct 1, 2023Not enough comparable past events yet for a historical read.
Not 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.
Describes crude pulling back from multi-year highs with WTI down about 2%, matching the timing and direction of the Brent decline through the window via profit-taking.
