Nymex WTI crude Oct. futures settle at $65.59 a barrel

Nymex WTI crude Oct. futures settle at $65.59 a barrel

The NYMEX WTI crude oil futures for October 2025 closed at $65.59 a barrel on September 2, 2025. This marks a significant increase from the previous day's close of $64.01, reflecting market dynamics influenced by geopolitical events and supply concerns.

The price surge is largely attributed to recent sanctions imposed by the United States on Iranian oil exports. This move has tightened global oil supplies, pushing prices higher. Additionally, the suspension of oil sales by Saudi Arabia and Iraq to Indian refiner Nayara Energy has contributed to the market's tension [1].

Furthermore, the oil market is closely monitoring the upcoming OPEC+ meeting, where decisions regarding production cuts could impact future prices. The weaker dollar and ongoing Russian supply risks are also factors influencing the market's behavior [2].

Looking at the broader energy sector, Brent crude oil futures for September 2025 are trading at $68.60 a barrel, up by 2.56% from the previous day. Meanwhile, natural gas futures at the Henry Hub are trading at $2.99 a barrel, with a 0.37% increase from the previous day [3].

The oil futures market remains volatile, with investors closely watching for any developments that could disrupt the supply chain or affect demand. As geopolitical tensions persist and supply constraints continue, market participants will remain vigilant for any signs of change.

References:
[1] https://www.google.com/finance/quote/CLW00:NYMEX?hl=en
[2] https://www.bloomberg.com/news/articles/2025-09-02/oil-drifts-as-traders-wait-for-opec-and-next-us-move-on-russia
[3] https://www.google.com/finance/quote/BZW00