Commodities
WTI Crude Price Dips Below $91 Amid Gulf Exports Boost
Crude oil prices took a moderate downturn on Friday as increased exports from Gulf countries offset concerns over stalled US-Iran peace negotiations.
The West Texas Intermediate (WTI) benchmark dropped below $91.00, down from Thursday's high of $92.64, and turned negative in the weekly chart.
A report by JP Morgan found that oil flows from Middle East countries averaged 17.7 barrels per day in September, about 98% of pre-war levels, while fuel exports averaged 3 million barrels per day, or 58% of pre-war supply.
US President Donald Trump's call for France and Germany to release diesel stocks immediately or face a ban on US exports also contributed to easing pressure on prices.