Brent crude falls below $99
Oil drilling rigs
Oil prices fell today, Sept. 23, amid hopes for a diplomatic solution to the war between the US and Iran.
Both contracts recorded a decline for six consecutive sessions, bringing the price to its lowest level in about two weeks, Reuters reported.
The markets received positive signals following statements by US President Donald Trump indicating that his envoys had conducted fruitful negotiations with Iranian mediators to end the conflict, which boosted traders' hopes of reaching an agreement that would ease military tensions in the region.
Data from the American Petroleum Institute showed a rise in US crude inventories, while markets await official data from the Energy Information Administration later today, amid expectations of a decline in inventories.
|
Brent, WTI Futures Prices |
|||
|
Crude |
Price ($/bbl) |
Change ($) |
Change |
|
Brent (November delivery) |
98.39 |
(0.86) |
(0.85%) |
|
WTI (October delivery) |
89.22 |
(1.30) |
(1.45%) |
*At 08:11 am Makkah time
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