CRUDE oil price would remain under pressure on concerns that demand would recover slower than expected as an increase in supply fades optimism of falling crude and fuel inventories. The Brent crude contract for November delivery was trading at US$42 (RM174.72) a barrel, down 66 cents or 1.62% (at the time of writing) as Saudi Arabia cut the price of supply to Asia. The West Texas Intermediate (WTI) contract for October delivery skidded 69 cents or 1.76%, to US$39 a barrel on fears of loosening OPEC+ compliance, the end of the US driving season and stale long positioning combined to erode confidence in oil.
