Oil fell to the lowest in nearly five months as OPEC+ is expected to agree on restoring more idled supply in a meeting over the weekend, while the ongoing US government shutdown fueled risk-off sentiment.
West Texas Intermediate slid more than 2% to settle at $60.48 a barrel, its lowest close since early May. Brent traded lower to settle near $64, the lowest since late May. Early signs of global oversupply may be emerging in the Middle East, while US crude and gasoline stockpiles swelled last week.