Asian Crude Imports Surge Amid Ongoing Middle East Tensions

Oil prices retreated on Thursday after data showed Asia's September crude imports were on track to reach their highest level since the outbreak of the U.S.-Iran war.

The November-delivery Brent Crude futures fell 0.52% to settle at $102.54 per barrel, while November-delivery West Texas Intermediate (WTI) futures declined 0.34% to $91.85 per barrel.

The data from commodity analytics firm Kpler indicates that Asia's September crude imports are estimated at 23.96 million barrels per day, up from 23.38 million barrels per day in August and the highest level since February.

The U.S.-Iran tensions show no signs of easing, with Iranian President Masoud Pezeshkian accusing the United States and Israel of fueling global instability at the UN General Assembly.