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Oil prices fell on Monday as increased crude exports from the Middle East and withdrawals from oil inventories held by G7 countries added to supplies, offsetting concerns over further potential damage to oil infrastructure in the Gulf amid the US-Israeli war with Iran.
Oil prices fell on October 5 as higher Middle East exports and a G7 agreement to release strategic reserves eased supply concerns. Brent and WTI futures both declined.
Middle East Crude Exports Recover, Irans Shipments Zero Exports average 18.5 million barrels daily, surpassing pre-war levels; U.S. blockade halts Irans shipments.