Brent slides more than 1% to $96.94 as West Asia supply recovery signals ease disruption fears
AI Market Summary
Brent and WTI fell over 1% as evidence of recovering West Asia supply reduced disruption risk, including higher September regional output and resumed Saudi loadings from Yanbu. Additional pressure came from an EIA-reported 0.9M barrel build in US commercial crude inventories, now above the five-year average. Mixed product stocks highlight demand resilience, but near-term pricing is dominated by improved supply and higher crude inventories.
Impact level
● Medium
Affected assets
NCCO1OILBRENT2USD/USDT+4.78%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Oil futures fell on Thursday, with Brent down more than 1% to $96.94 a barrel and WTI off 1.38% to $89.17. Market reports said West Asia crude supply rebounded in September to 16.328 million barrels per day, the highest since the conflict began in February, easing worries about disruptions. In the US, commercial crude inventories rose by 0.9 million barrels to 427.3 million barrels for the week ended September 25, according to the Energy Information Administration (EIA).
