Oil dips as Gulf exports rebound
Oil prices declined by 1% on Thursday, influenced by the recovery of Gulf exports and increased U.S. inventories, which eased supply concerns. Brent crude fell to $96.92 per barrel, while West Texas Intermediate dropped to $89.18, marking monthly gains between 5% and 14% in September. The decline is attributed to Saudi Arabia resuming oil loading from Yanbu, rising U.S. oil inventories, and diminished geopolitical fears amidst improved communication between the United States and Iran.
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