Brent oil price fell below $98 for the first time since early September

The cost of November futures for Brent crude oil on the ICE exchange decreased by 2.6%, to $97.7 per barrel. Brent fell below $98 for the first time since September 8. Futures for WTI crude oil with delivery in November is cheaper by 2.9%, to $89.6 per barrel.

Since the beginning of September, the quotations of Brent futures have increased by 22-23% against the background of mutual blows by the United States and Iran, as well as attacks by the Houthis on Saudi energy facilities. The latter also increases the risks of shipping through the Bab el-Mandeb Strait, through which 4.2 million barrels of oil and petroleum products were transported daily in 2025. Market participants allowed prices to rise in the range of $110-120 per barrel. Since the end of last week, Brent has gone down.

On the development of the situation on the market - in the publication "Kommersant" "Oil counts to a hundred".