Oil market held steady as investors wrestled possible interest rate hikes.
International benchmarks for crude oil settled nearly flat on Monday, 25 September 2023 after Russia relaxed the ban on fuel exports introduced last week
International benchmarks for crude oil settled nearly flat on Monday, 25 September 2023 after Russia relaxed the ban on fuel exports introduced last week while investors remained wary about the higher-for-longer interest rates in the US that would erode demand.
Also weighing on the crude oil market is the strengthening US dollar.
Brent added merely 2 cents to close at $93.29/barrel.
WTI shed 35 cents to settle at $89.68/barrel.