Brent Crude Falls Below $103 a Barrel for First Time Since September 10
Oil prices declined on London's ICE exchange, with WTI futures also dropping sharply, according to TASS.
The price of Brent crude oil futures fell below $103 per barrel on London's Intercontinental Exchange (ICE), marking the first time the benchmark has dropped to this level since September 10, according to a report by Russian news agency TASS.
TASS reported that futures contracts for West Texas Intermediate (WTI) crude oil, the U.S. benchmark, for October delivery were down by 1.86% at the time of reporting.
The report did not provide additional details on the factors driving the price movement or specify the exact figures for either the Brent or WTI contracts beyond the percentage decline cited for WTI.
Brent crude serves as a global benchmark for oil pricing, while WTI is primarily used to price North American crude oil. Movements in these benchmarks are closely watched as indicators of global energy market conditions.
Sources
- Price of Brent oil down below $103 per barrel on London’s ICE first since September 10 — TASS (Russia)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Related articles
JP Morgan Says It Cannot Reliably Forecast Oil Prices Amid US-Iran Tensions
The bank said uncertainty tied to the conflict has made it difficult to predict how crude prices will move in the coming months.
JP Morgan Says US-Iran Tensions Make Oil Price Forecasts Unreliable
The bank told clients it "simply doesn't know" how crude prices will move, citing uncertainty over how far the conflict between the United States and Iran could escalate.
Japan Lifts Interest Rates to 31-Year High as Oil Prices Ease on Saudi Pipeline Hopes
Central bank tightens policy to curb inflation while UK retail sales rise and Brent crude falls on reports of a swifter Saudi pipeline repair
Global Markets Rise as Oil Prices and Bond Yields Decline
Easing supply concerns and clearer signals from the Federal Reserve on future policy helped lift equities worldwide, according to Anadolu Agency.
Dangote Refinery's $1.6 Billion Share Offer Seen as Out of Reach for Many Nigerians
Africa's richest man, Aliko Dangote, is seeking $1.6 billion from investors to fund a major expansion of his oil refinery, but analysts say the offer may be unaffordable for ordinary Nigerians.
Venezuela's PDVSA Signs Energy Cooperation Deal with TotalEnergies Subsidiary
Acting President Delcy Rodriguez oversaw the signing of an agreement between state oil company PDVSA and TotalEnergies E&P New Ventures in Caracas, according to Anadolu Agency.
Comments
Loading comments…