# Oil dips as recovering Gulf exports ease supply fears, US-Iran diplomacy in focus - The Business Times

> Oil fell about 1% on October 1, with Brent at $96.92 and WTI at $89.18, as Gulf crude exports recovered and Saudi Arabia resumed loadings from Yanbu. A surprise 922,000-barrel rise in US crude inventories also eased supply concerns, while US-Iran diplomacy was in focus.

- Date: 2026-09-30 · published 2026-09-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/17630-oil-dips-as-recovering-gulf-exports-ease-supply-fears-us-iran-diplomacy-in
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Restored Gulf flows and rising US stocks reduce the near-term supply risk that had lifted energy costs. Lower crude eases pressure on diesel and freight costs for feed buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-dips-recovering-gulf-exports-ease-supply-fears-us-iran-diplomacy-focus

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