Oil slips 0.7% as supply signals improve
- Brent crude fell 0.7% to $101.61 a barrel, while WTI dropped 0.9% to $92.02.
- Improving Middle Eastern supply signals weighed on prices after both benchmarks climbed sharply on Thursday.
- Possible renewed U.S.-Iran tensions and China’s October fuel export suspension continued to support oil prices.
Brent crude fell 0.7% to $101.61 a barrel on Friday while West Texas Intermediate dropped 0.9% to $92.02 as traders weighed improving Middle Eastern supply against geopolitical risks.
The declines followed Thursday’s gains, when Brent settled at $102.31 after rising 4.37% and WTI closed at $92.87 after gaining 2.71%.
“The market is taking stock of a distinctly mixed set of signals this week,” said KCM Trade Chief Analyst Tim Waterer.
Saudi export conditions showed improvement, while China suspended refined-product exports for October and reports indicated additional U.S. military assets could be deployed to the Middle East.
Brent remained above $100 as traders monitored regional supply risks, with the benchmark down 70 cents at $101.61 and WTI down 85 cents at $92.02 by 0635 GMT.
Middle Eastern energy flows have been recovering, with September LNG shipments through the Strait of Hormuz reaching their highest monthly level since the regional conflict began earlier in 2026.
Oil markets are also tracking emergency supply measures after the U.S. offered loans of up to 40 million barrels from the Strategic Petroleum Reserve and separately urged European countries to release fuel inventories.
