Brent oil prices rose to $102.4 per barrel after briefly falling below $99

World oil prices, which, amid expectations that European countries will bring strategic reserves of diesel fuel and oil from reserves to the market, fell below $99 per barrel of Brent on the afternoon of October 2, began to rise again, jumping to $102.4 per barrel at the time of writing. This is evidenced by trading data.

Thus, the hopes of US President Donald Trump that Europe, after his demands to bring “huge reserves” of fuel to the market, would help lower prices by immediately starting this process, apparently did not come true, although the American leader announced that the EU had met him halfway.

As Politico wrote, citing its European sources, Germany and France, approached by Washington, take opposing positions regarding the US request to sell 120 million barrels of diesel from the EU stockpile. It is alleged that Berlin considers it possible to start selling off reserves only in the event of a real cessation of supplies from overseas, and Paris proposed releasing 50 million barrels of oil and another 50 million barrels of diesel onto the market, which, according to some sources, was approved as a result.