WTI crude slipped below $61 per barrel, pauses after three-day rally

WTI crude slipped below $61 per barrel on Wednesday, pausing a three-day rally as traders awaited OPEC?s monthly report and the IEA?s annual energy outlook for cues on future supply trends. Concerns over oversupply kept sentiment cautious, though losses were cushioned by a softer US dollar and optimism that the prolonged US government shutdown may soon end. The dollar index hovered near 99.3, weighed by weak labor market signals that fueled Fed rate cut expectations. On the MCX, November crude futures edged down 0.1% to Rs 5396, showing smaller losses than global benchmarks.

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