WTI Oil falls below $94 as Saudi flows recover

Crude oil prices fell sharply on Monday, with WTI slipping below $94 per barrel as concerns over supply disruptions eased after Saudi Arabia increased crude loadings through Oman following weekend attacks by Iran-backed Houthis. Brent crude fell 2.14% to $101.61 a barrel, while WTI declined 2.21% to $93.98. Rising oil-product inventories across the US, Singapore and Europe, along with higher Chinese fuel exports, added further pressure on prices. The dollar index steadied near 100 after gaining more than 1% last week following the Federal Reserve?s rate hike and hawkish policy signals. Investors now await several Fed officials? appearances this week for fresh clues on the interest-rate outlook. On MCX, October crude oil futures traded over 2% lower at Rs 9,049 per barrel.

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