Oil prices experienced a slight decline on October 6, following the G7’s decision to release 100 million barrels of crude oil and diesel fuel from emergency reserves. Brent futures lost 4 cents, trading at $100.28 per barrel, while U.S. WTI fell by 11 cents, or 0.1%, to $89.33 per barrel. Data indicates that crude oil exports from the Middle East exceeded pre-war levels for four days during the final week of September, demonstrating the region’s continued oil production resilience despite heightened security concerns in the Persian Gulf. The conflict between Saudi Arabia and the Iran-backed Houthis in Yemen also contributed to the cautious outlook, with recent attacks on vessels passing through the Strait of Hormuz.
Source: UA
