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Brent Crude Dips to $101 Amid G7 Supply Release and West Asia Export Rebound
M
Moneycontrol•05-10-2026, 10:52
Brent Crude Dips to $101 Amid G7 Supply Release and West Asia Export Rebound
- •Brent crude fell 0.7% to $101.58 a barrel, while WTI slipped 1.1% to $90.14, due to increased supply.
- •G7 nations agreed on October 2 to release 100 million barrels of crude and fuel products from emergency reserves.
- •A significant portion of the released reserves, particularly diesel, is expected to enter the market within 20 days.
- •West Asian oil exports saw a rebound in late September, indicating a faster-than-expected recovery in the region's supply chain.
- •Petrol, diesel, and CNG prices across major Indian cities remained largely unchanged on October 5, with minor fluctuations in Gurgaon and Bangalore.
Key Questions Answered
Brent crude fell 0.7% to $101.58 a barrel and WTI slipped 1.1% to $90.14 due to rising supply from two directions: G7 nations agreed to release 100 million barrels of crude and fuel products from emergency reserves, while West Asian exports increased as the region's supply chain regained momentum.
On October 5, petrol in New Delhi is priced at ₹102.12 per litre with a 0.00 price change, and diesel is priced at ₹95.20 per litre with a 0.00 price change.
On October 2, G7 nations agreed to release 100 million barrels of crude and fuel products from emergency reserves, with a large share of diesel expected to hit the market within 20 days.
