From Daily Times · Attia Naveed · · 1m 10s
Oil prices fall as geopolitical tensions ease
Global oil prices drop after Middle East tensions ease.
In brief
Global oil prices drop after Middle East tensions ease. Oil prices fell as geopolitical tensions eased, with Brent crude dropping $1.47 to $91.29 per barrel. Originally reported by Daily Times.
Oil prices drop
Global oil prices dropped by more than $1 per barrel as geopolitical concerns eased.
Brent crude falls
Brent crude futures declined $1.47, or 1.58%, to reach $91.29 per barrel.
WTI crude drops
US West Texas Intermediate crude fell $1.24, or 1.43%, to $85.29.
Market analysts
Analysts linked Thursday’s losses to expectations of diplomatic progress involving several countries.
Russia-Ukraine prisoner swap
Russian and Ukrainian representatives agreed to a major prisoner exchange during peace talks in Abu Dhabi.
Ukraine peace talks
Ukrainian President Volodymyr Zelenskiy said Kyiv wanted meaningful progress towards ending the conflict.
Iran warns
Iranian security chief Mohsen Rezaei warned against further American military action.
OPEC+ production
OPEC+ production increased during October despite continuing shipping disruptions.
US inventories rise
American crude inventories increased by nine million barrels during the latest week.
The bottom line
Oil prices fell as geopolitical tensions eased, with Brent crude dropping $1.47 to $91.29 per barrel.
