Brent falls to $109 as markets assess supply risks
By the AFREEQUE newsroom, based on Theghanareport
Brent fell 0.45% to $109.06 a barrel, while November WTI declined 0.33% to $103.32. Markets are assessing the easing of some US sanctions on Russian energy and the risks of supply disruption in the Middle East, The Ghana Report reports.
Brent fell 49 cents, or 0.45%, to $109.06 a barrel at 00:10 GMT on Tuesday, as markets assessed risks to energy supplies in the Middle East, Reuters reports. US West Texas Intermediate (WTI) futures for November delivery fell 0.33% to $103.32.
Brent had reached $110.70 in the previous session, its highest level since 20 May. The more active December WTI contract fell 46 cents, or 0.47%, to $98.08.
An executive order from Donald Trump lifted some US sanctions and tariffs targeting Russian energy exports, but the US president said no final decision had yet been made. Russian oil production rose by 65,000 barrels per day in September to 8.43 million barrels per day, while remaining 870,000 barrels per day below its level a year earlier, according to the International Energy Agency.
Yemen’s Houthi rebels claimed attacks on energy sites, airports and military installations in Saudi Arabia. Saudi authorities did not immediately confirm the claims, Reuters reports. An attack on Monday against a security forces training camp in Yemen’s Shabwa province also killed 58 people and injured more than 200.
The development follows the oil price decline linked to Trump’s easing of Russian sanctions, reported on 19 October. Concerns over Russian exports and the security of Gulf infrastructure continue to weigh on markets.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
