Saudi Oil Exports Surge, Brent Crude Price Falls to $97.34

The Brent crude price has dropped to $97.34 per barrel, while WTI slipped to $86.61 after Saudi Arabia increased its oil exports.

Saudi Arabia's crude exports have more than doubled from 2.45 million barrels a day in August to around 5.4 million barrels in September due to the restoration of parts of the damaged East-West pipeline.

The increase in West Asian supply has led to a decrease in oil prices, with Brent crude falling by 0.70% and WTI declining by 0.90% at 8:37 am IST.