The benchmarks gained 4 per cent last week in volatile trade as markets priced in uncertainty over the looming US election and the extent of Israel's expected response to the Iranian missile attack on 1 October
Read MoreCrisil Ratings says that recession fears and slack demand cull crude amid lower geopolitical tensions
Read MoreIran said on Tuesday that it would launch another attack if Israel used force in response to the approximately 200 missiles it fired
Read MoreBoth benchmarks fell nearly 2 per cent last Friday as investors tempered their Chinese demand growth expectations
Read MoreBoth benchmarks fell more than 1 per cent on Wednesday after US crude inventories rose unexpectedly and on easing worries about a wider Middle East conflict
Read MoreCurrently, oil prices hover around USD 80 per barrel, a figure insufficient for many Opec+ members to achieve budgetary balance
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