Oil slides for third day on OPEC+ supply fears

WTI crude oil futures hovered near $61 per barrel on Tuesday, extending losses for a third straight session as signs emerged that OPEC+ may raise production, fueling supply glut worries. On the Multi Commodity Exchange, crude for November delivery traded slightly higher at ₹5443 per barrel. India?s crude imports climbed 1.7% in September to 19.93 million metric tons, the highest since June, and were up 6.1% from a year earlier, government data showed. Meanwhile, the dollar index dipped to around 98.5 on optimism surrounding a potential US-China trade deal ahead of Presidents Trump and Xi?s meeting. Markets now await the Federal Reserve?s policy decision, where a 25-bps rate cut is widely expected, while the BOJ and ECB are likely to keep rates unchanged.

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