Oil Prices Fall 1% as Brent Reaches $96.61 a Barrel
Automated summary•1 October 2026 at 09:02
Global oil prices fell 1% on Thursday as increased supply and easing geopolitical concerns weighed on the market.
Brent crude stood at $96.61 a barrel, while U.S. crude was priced at $88.86 a barrel.
The decline came as greater oil availability put downward pressure on prices, with supply conditions remaining a key factor in trading.
At the same time, calmer geopolitical concerns reduced fears of potential disruptions to oil flows, adding to the pressure on crude prices.
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