Oil to see volatility after choppy August

U.S. crude benchmark WTI settled at 88.81 dollars a barrel on the last day of August, losing 6.08 dollars or 6.41 percent compared to month beginning. In London, Brent crude closed the month at 114.85 dollars a barrel, dropping 1.96 dollars or 1.68 percent after a 4.4-percent rise in July. According to analysts, after the choppy August, crude prices would continue to see volatility given lack of confidence after the first-ever U.S. credit rating downgrade, double-dip recession threat, lingering European debt crisis and uncertainties in Libya in a post-Gaddafi era.