WTI Oil Prices Ease Below $91.00 Amid Gulf Flows, Middle East Tensions

WTI Oil prices edged down below $91.00 on Thursday amid reports of higher flows from the Gulf, according to a report by JP Morgan. The report affirmed 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 'immediately' diesel stocks or face a ban on US exports has also contributed to easing pressure on prices. However, tensions between the US and Iran remain high, with the Pentagon sending a third aircraft carrier with approximately 10,000 troops to the region.

The UK Maritime Trade Operations reported that a tanker was hit by an unknown projectile while crossing the Strait of Hormuz on Thursday, highlighting the ongoing risks in the area. The incident has kept crude prices from falling further despite the easing pressure.