Fuel supply from Russia and energy facilities agreement lower oil prices
Statements of agreement regarding fuel and energy facilities expected to be introduced to the markets caused a decline in global oil prices.
Global oil prices declined following expectations that Russia will supply more fuel to the market and supply steps taken between Washington and Moscow.
Decline in Oil Prices
While the barrel price of Brent crude oil fell by $1.54 to $103.18, the barrel price of WTI crude oil dropped to $90.31.
Diesel Fuel Supply Plan
It was reported that Russia will immediately provide more than 300,000 tons of diesel fuel to the US and world markets, with additional shipments to be made in November.
Energy Sector Ceasefire
US President Donald Trump announced that Kyiv and Moscow had agreed on a ceasefire in the energy sector, though the parties' reactions differed.
Expert Evaluations
Market analysts state that there are doubts about the sustainability of the ceasefire and that the price drop may remain limited until concrete evidence is seen.