U.S. and Brent Crude Prices Fall Nearly $0.80 on Sept. 28
U.S. crude traded at $94.21 a barrel and Brent at $100.34 after both benchmarks fell nearly $0.80.
U.S. crude and Brent prices fell by nearly $0.80 on Sept. 28, pulling back from earlier September highs after a month of sharp moves driven by geopolitical developments.
U.S. crude was trading at $94.21 a barrel, while Brent stood at $100.34.
The pipeline’s export activity had been expected to remain halted for weeks after an attack prompted repairs, pushing U.S. crude above $100 and Brent to $105.81 earlier in September. Prices remain above July levels of about $80 for U.S. crude and $85 for Brent.
The development adds to a series of geopolitical events that have driven sharp moves in oil markets this month, including restrictions affecting shipping near Saudi Arabia and changes involving Iranian oil sanctions.
