‎Oil prices extend decline; Brent falls below $104

‎<p><img src="https://argaamplus.s3.amazonaws.com/f1671d69-917f-4595-be6d-05104903ed1e.png" ></p> <p class="ckeCaption" >Supply disruptions from the US-Iran war and attacks on Russian refineries continue to weigh on global oil markets.</p> <hr> <p >Oil prices extended their decline on Friday, but Brent remains on track to end the week above $100 per barrel for the first time since mid-May, as markets monitor tensions in the Middle East.</p> <p ></p> <p >Oil supply disruptions stemming from the US-Iran war, coupled with Ukrainian attacks on Russian refineries, pushed the average US diesel price above $6 per gallon for the first time ever.</p> <p ></p> <p >The International Energy Agency (IEA) expects a further decline in global oil supplies as US-Iran negotiations falter and the return of normal oil flows from the Middle East is delayed until 2027.</p> <p ></p> <p >Markets are awaiting US oil and gas rig count data from Baker Hughes later today for further clues on the US supply outlook.</p> <p ></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="4" > <p ><strong><span >Change in Benchmark Crude Futures Prices</span></strong></p> </td> </tr> <tr > <td > <p ><strong><span >Crude</span></strong></p> </td> <td > <p align="center" ><strong><span >Price ($/barrel)</span></strong></p> </td> <td > <p align="center" ><strong><span >Change ($)</span></strong></p> </td> <td > <p align="center" ><strong><span >Change (%)</span></strong></p> </td> </tr> <tr > <td > <p ><strong><span >Brent (November delivery)</span></strong></p> </td> <td > <p align="center" ><span >103.72</span></p> </td> <td > <p align="center" ><span >(3.91)</span></p> </td> <td > <p align="center" ><span >(3.63%)</span></p> </td> </tr> <tr > <td > <p ><strong><span >Nymex (October delivery)</span></strong></p> </td> <td > <p align="center" ><span >99.04</span></p> </td> <td > <p align="center" ><span >(3.44)</span></p> </td> <td > <p align="center" ><span >(3.39%)</span></p> </td> </tr> </tbody> </table> <div ><em class="ckeCaption">*As of 01:20 pm Makkah time.</em></div>

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Argaam - Main News · Trade Publication

Published

11th September 2026

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argaam.com

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