Brent crude falls to $96 as Asian markets open on US-Iran progress

newsbomb.gr (Greek) —

Brent crude oil fell for a sixth consecutive session, trading at $96.01 per barrel as Asian markets opened, amid signs of progress in US-Iran contacts and recovering Middle East supply. Middle East oil exports have returned to near pre-war levels, averaging 17.5 million barrels per day, about 98% of previous figures. Saudi Arabia has reopened its East-West pipeline at half capacity, while shipments continue through the Strait of Hormuz. The US government decided to release up to 40 million barrels from strategic reserves to address rising fuel prices. Despite recent declines, Brent remains up 6.13% in September, heading for a third straight monthly gain due to geopolitical tensions.


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