World · India Bureau
Oil prices slip as Russian diesel supplies offset Middle East concerns
Global crude markets retreated on Monday as improved diesel supply prospects from Russia counterbalanced supply disruption risks in the Gulf region. Brent and US crude benchmarks both posted modest losses in early trading.
LSN India ·
International oil prices edged lower in early trading as competing supply dynamics weighed on sentiment across global markets. Brent crude futures declined 61 cents to settle at $106.04 per barrel, representing a 0.57% pullback, while US West Texas Intermediate crude fell 47 cents to $93.27 per barrel, a 0.5% decrease.
The modest retreat reflected a balance between supportive and bearish factors affecting the crude complex. Expectations of increased diesel supplies from Russia provided downward pressure on valuations, tempering concerns about potential supply constraints that have dominated market discussions in recent weeks.
Counterweighting these gains, ongoing geopolitical tensions in the Middle East and broader supply risk concerns continued to offer underlying support to prices. The region remains a critical global petroleum source, and any disruptions there typically drive prices higher.
Market participants remain focused on the interplay between OPEC+ production decisions, seasonal demand patterns, and macroeconomic indicators that could influence crude consumption across Asia and other key markets in coming weeks.