Brent Falls as U.S. Crude Rises

Brent crude futures fell to $109.55 per barrel after initially rising amid reports of increased oil demand, but investor profit-taking caused the price to drop. Meanwhile, U.S. West Texas Intermediate (WTI) crude increased to $103.66, the highest since September 15, with trading focused on the December contract. The rise in attacks on commercial ships has reduced Gulf oil flows to around 8.5 million barrels per day, down from over 20 million, amid expectations that Iran will escalate attacks ahead of the U.S. elections, impacting global oil prices.

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