Crude Oil is trading at $93.02 (-3.18%) after Saudi exports recovered above 4 million barrels per day in September, up sharply from August’s 2.4 million barrels per day.
- Saudi export recovery is easing fears of a prolonged supply shortage.
- Reuters reported investors were watching partial shipment recovery and hopes for diplomatic progress on the Iran conflict, reducing immediate supply-disruption concerns.
- Futures activity remains volatile after several sharp weekly moves.