Oil prices edge lower as Middle East crude exports near pre-conflict levels

  • Oil prices edged lower during early Asian trading as Middle East crude exports increased.
  • 12.5 million barrels a day was the estimated Persian Gulf shipment rate for the week ended Sept. 27.
  • ANZ Research said exports were nearing pre-conflict levels, based on estimates cited in its report.

Oil prices eased in early Asian trading as rising Persian Gulf exports suggested crude flows were approaching levels seen before the U.S.-Iran conflict. ANZ Research analysts said Middle East exports had grown strongly over the past week. Kpler estimated shipments reached 12.5 million barrels a day in the week ended Sept. 27, about 1 million barrels a day below the pre-conflict baseline. Front-month WTI crude oil futures fell 0.2% to $90.20 a barrel, while front-month Brent crude oil futures slipped 0.1% to $97.96 a barrel.

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Oil prices edge lower as Middle East crude exports near pre-conflict levels - CoinPost Terminal