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Brent crude falls below $100 amid Fed and OPEC+ moves
Crude oil prices declined below $100 per barrel, reaching approximately $97.92, amid profit-taking following a month-long rally. The rise was driven by a build in U.S. inventories of about 2.01 million barrels and expectations of OPEC+ increasing production by 188,000 barrels per day in September. The market anticipates that future oil price trends will be influenced by the Federal Reserve's decision regarding interest rates, as well as demand developments in the United States and China, and the geopolitical situation in the Middle East. Supply and demand factors, along with economic data, are expected to continue shaping oil price movements in the upcoming period.
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