William Watts is MarketWatch markets editor. In addition to managing markets coverage, he writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. During his time at MarketWatch, Watts has served in key roles in the Frankfurt, London, New York and Washington, D.C.
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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