
The exchange price of Brent oil began to decline during trading on Friday
During trading on October 2, Brent oil fell to $99.86 per barrel amid the restoration of supplies from the Persian Gulf countries and the resumption of work on the East-West pipeline.
AI-generated summary
Oil prices reacted to the partial resumption of the East-West pipeline and supplies from the Persian Gulf countries.
During trading on Friday, October 2, the exchange price of the benchmark North Sea oil brand Brent began to decline. This is evidenced by Investing data.
The day before, quotes were growing by almost 2 percent amid China's suspension of fuel exports. However, on October 2, the dynamics of oil prices turned out to be the opposite.
By 11:25 Moscow time, commodity quotes had dropped to $99.86 per barrel. The decrease to the closing level of the previous trading session by that time was 2.39 percent, or $2.45. At the minimum, quotes fell to $99.53.
Experts attribute the fall in oil prices, among other things, to the gradual restoration of supplies from the Persian Gulf countries, primarily from Saudi Arabia. This was facilitated by the partial resumption of work on the key East-West pipeline in the Middle East. With the ongoing blockage of the Strait of Hormuz, this route has become the main replacement route.

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