# Oil: Diverging supply signals shape Brent – ING

> ICE Brent repeatedly dipped below $100 a barrel but kept settling above that level as Hormuz flows recovered toward 80% of capacity. Speculators cut their net long position to its smallest since early August, and Saudi Arabia lowered its official selling price for November-loading Arab Light.

- Date: 2026-10-05 · published 2026-10-05T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/17242-oil-diverging-supply-signals-shape-brent-ing
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Recovering Hormuz flows and lower Saudi pricing point to looser crude supply, a modest bearish factor against persistent geopolitical risk premium.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- tmgm-asia.com: https://www.tmgm-asia.com/eng/analysis/market-news/article/oil-diverging-supply-signals-shape-brent-ing-202610050630

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.