# Oil prices set for first weekly drop since Aug as supply concerns ease

> Brent and WTI edged higher on Friday, turning positive after an early decline, with Brent settling at $84.38 and WTI at $83.57. Prices were on track for their first weekly decline in about two months after a larger-than-expected US crude stock build and signs of Iran nuclear talks restarting.

- Date: 2021-10-29 · published 2021-10-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/44737-oil-prices-set-for-first-weekly-drop-since-aug-as-supply-concerns-ease
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations that OPEC+ will keep output steady and possible Iranian barrels returning pull in opposite directions for crude, which feeds diesel and fertilizer costs and supports the energy-linked price floor for feed ingredients.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- cnbc.com: https://www.cnbc.com/2021/10/29/oil-markets-opec-and-allies-iran.html

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