Oil futures rose Wednesday morning, as traders await a Federal Reserve policy decision as they continue to monitor developments around the Israel-Hamas war.
Price action Market drivers WTI futures based on the front-month contract finished Tuesday at their lowest since Aug. 28, down 10.8% for the month, according to Dow Jones Market Data. Brent broke a streak of four straight monthly gains, falling 8.3% in October. The American Petroleum Institute late Tuesday reported a 1.3 million barrel rise in U.S. crude-oil inventories last week, according to a source citing data. Official figures from the Energy Information Administration are due this morning.
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