Oil Prices Plummet as Supply Fears Ease

Crude oil prices have been declining for five consecutive days, reaching $91.57 per barrel on September 22, marking a 0.87% drop.

This downward trend follows a recent high of over $104 per barrel earlier in the month, and market participants are now recalibrating their expectations for crude oil to reach a new all-time high by year-end.

The easing of supply fears in the Middle East is contributing to this sustained price reduction, with key figures such as OPEC Secretary General Mohammad Sanusi Barkindo and Saudi Minister of Energy Abdulaziz bin Salman Al Saud likely to influence market sentiment.