Oil prices increases on tightening supply — Market Talk

WORLD, Oct. 2 – Prices of oil are pushing higher as tightening fundamentals continue to provide support to key benchmarks.

Market Talk reports that, Brent crude is up 0.3% to $92.51 a barrel while WTI is 0.4% higher at $91.13 a barrel.

Analysts at ING say the oil market remains well supported after the ICE Brent November contract expired at $95.31 a barrel on Friday, “which saw the oil market finishing the third quarter up a little more than 27%–its strongest performance since the first quarter of 2022.”

The market will be looking to the OPEC+ Joint Ministerial Monitoring Committee on Wednesday, the analysts say in a note. “The market will be eager to see if there are any signs of a change in the group’s output policy, given the recent strength in the market.”