Crude-oil futures were mixed in a muted session on Monday ahead of the U.S. Energy Information Administration’s weekly inventory report and the outcome of the Federal Open Market Committee meeting on Wednesday. “There’s a lack of strong driving factors from the Middle East or the U.S. after the government shutdown ended, so the oil market is back to focussing on fundamentals cues, which are likely to come from the EIA on Wednesday,” said Singapore-based Phillip Futures analyst, Tan Chee Tat. Mr. Tan said West Texas Intermediate crude oil prices are likely to test the $100 a barrel level by the second week of November as the seasonal maintenance of U.S. refineries come to an end. High stockpiles, which have weighed on prices recently, are likely to fall as production picks up, he added. “We’ve seen an unusual widening in the Brent-WTI spread recently but the spread is likely to […]