Oil prices fell with Brent retreating to $100.5 and WTI to $90.85
Oil prices decreased in today’s Friday trading, with Brent crude dropping by $1.80 to approximately $100.50 per barrel, and U.S. West Texas Intermediate crude also falling by $2.02 to around $90.85. The main pressure on the market came after European countries agreed to release part of their diesel reserves and considered releasing crude oil from emergency reserves, a move aimed at reducing pressure on fuel prices. However, the oil market remains influenced by concerns related to supply in the Middle East, China’s restrictions on petroleum product exports, and disruptions in Russia’s refining capacity. These factors have kept prices at high levels despite today’s drop. Yesterday, Brent crude had risen to $102.31 following heightened geopolitical concerns and news of the U.S. sending more troops to the Middle East.