Oil prices edge lower in early Asian trade on signs of rising crude exports from the Middle East. Exports from the Persian Gulf have been growing strongly over the past week, with some estimates putting the flows nearing levels before the U.S.-Iran conflict, ANZ Research analysts say in a research report. Satellite tracking firm Kpler estimates that shipments reached 12.5 million barrels a day during the week ended Sept. 27, just 1 million barrels a day below the pre-conflict baseline, the analysts noted.
Front-month WTI crude oil futures are 0.2% lower at $90.20 per barrel; front-month Brent crude oil futures are 0.1% lower at $97.96 a barrel.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing