From The Economic Times · Veer Sharma · · 1m
Oil Prices Drop Amid Iran Tensions
Crude oil falls $101 as Iran conflict risks ease.
In brief
Crude oil falls $101 as Iran conflict risks ease. Oil prices dipped to $101.60 per barrel despite Iran war tensions due to increased Middle Eastern exports and Group of Seven oil stock releases. Originally reported by The Economic Times.
Oil Prices Slip
Oil prices dropped $101.60 per barrel on Monday despite Iran war tensions.
Brent Crude Falls
Brent crude futures dropped 70 cents to $101.60 a barrel, down 0.69%.
US Crude Drops
US West Texas Intermediate crude fell 90 cents to $90.15 a barrel, down 1.07%.
Middle East Exports Rise
Middle Eastern crude exports climbed above pre-war levels on four days in September.
Houthis Attack Saudi Sites
Houthis claimed ballistic missile and drone attacks on Saudi Aramco sites in Riyadh and Khurais.
Saudi Arabia's Response
Saudi-backed government plans military campaign to retake Yemeni territories from Houthis.
Aramco Price Cut
Aramco cut November crude oil prices for Asia to six-year lows.
The takeaway
Oil prices dipped to $101.60 per barrel despite Iran war tensions due to increased Middle Eastern exports and Group of Seven oil stock releases.
