COMMODITY
Crude oil futures end higher on Wednesday
Sep-03-2026

Crude oil futures ended higher on Wednesday as concerns over a drawn-out Gulf war deepened after the U.S. commenced its second round of attacks against Iran, prompting a forceful retaliation from Tehran. Meanwhile, the Energy Information Administration (EIA) released a report showing U.S. crude oil inventories slumped by much more than expected in the week ended August 28, 2026. The report said crude oil inventories tumbled by 4.5 million barrels last week after inching up by 0.1 million barrels in the previous week. 

Benchmark crude oil futures for October delivery rose by $0.79 or 0.88% to settle at $91.01 a barrel on the New York Mercantile Exchange. Brent crude for November delivery increased by $0.98 or 1.04% to settle at $95.63 a barrel on the New York Mercantile Exchange.


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