Oil drops on Russian diesel supply outlook

Oil prices declined by approximately 2% after reaching their highest level in about a month due to concerns over supply disruptions caused by attacks on Saudi Arabia and worries about increased Russian diesel supplies following Moscow's approval to export diesel fuel to global markets and the temporary easing of US sanctions on Russian fuel. As a result, Brent crude fell to around $104.63 per barrel, and West Texas Intermediate (WTI) dropped to $91.85, despite having risen in the previous session. These developments come amid fears of fragile energy infrastructure and escalating attacks in the Gulf region, after OPEC revised its oil demand growth forecast down to 400,000 barrels per day from 1.4 million barrels earlier this year.

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