Brent crude falls, but holds above $101
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Crude oil prices fell today, Oct. 5, as concerns about global energy supplies eased following the G7 agreement to pump additional quantities of diesel and crude into the markets, coinciding with the recovery of oil exports from the Middle East to pre-war levels between the US and Iran.
Preliminary data from ship-tracking firm Kpler indicated that crude exports from the Middle East exceeded pre-war levels on Sept. 24, and also in the period between Sept. 27 and 29, with export rates ranging between 19.5 million and 22.5 million barrels per day, Reuters reported.
Analysts at ING Bank said in a note that Brent crude prices continue to remain above $100 a barrel, amid ongoing geopolitical tensions between Tehran and Washington.
|
Brent, WTI Futures Prices |
|||
|
Crude |
Price ($/bbl) |
Change ($) |
Change |
|
Brent (November delivery) |
101.71 |
(0.54) |
(0.55%) |
|
WTI (November delivery) |
90.26 |
(0.85) |
(0.95%) |
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