Brent crude oil barrel price exceeds $100 again in global markets
Deadlocks in diplomatic traffic between Washington and Tehran, along with regional supply dynamics, have caused volatility in energy markets.
Following stalled talks between the US and Iran and supply developments in the Middle East, the barrel price of Brent crude has risen back above $100.
Latest situation in Asian markets
Oil traded flat in Asian trade on Thursday as the outcomes of US-Iran peace talks and the outlook for crude exports from the Middle East were assessed.
Brent crude futures for December delivery, which had risen up to $93.30 on Wednesday, closed the day at $98.03.
Daily price changes
The December futures price of Brent crude increased by 2.5 percent compared to the close, reaching the $100.49 level as of 12:59 PM.
At the same minutes, the November futures price of West Texas Intermediate crude was recorded at $92.57.
Reflections of diplomatic tension
Reports that US Secretary of State Marco Rubio asked the Iranian delegation to leave the country immediately following the deadlock in negotiations played a role in the rise of oil prices.
Regional supply and shipment steps
Saudi Arabia resumed loading crude oil onto tankers from Yanbu following the resumption of activities on the East-West Pipeline.
Goldman Sachs stated in a published note that Gulf oil exports rose to 23.3 million barrels per day last week.
OPEC+ meeting and expectations
OPEC+ countries are not expected to make any changes to their November oil production targets at their meeting on Sunday.