Oil eased early on 9 October after the previous day’s sharp rise, Reuters reported. At 02:20 GMT, Brent was down 0.7% at $103.53 a barrel and West Texas Intermediate fell 0.6% to $90.97. News of US–Iran talks had partly eased concerns about Middle Eastern supply.
The pullback followed Thursday’s rally: Brent had settled 4.1% higher at $104.28, while WTI gained 3.6% to $91.49. Increased attacks on shipping and concerns about regional oil flows were among the reported drivers. Friday’s early decline reversed only part of that move.
Supply pressure also extended to the US Gulf of Mexico. Reuters reported that producers had shut about 1.3 million barrels a day, or 62.9% of the region’s current oil output, by Thursday as a hurricane approached. The market was therefore confronting disruption risks in more than one producing region.
Separately, Reuters cited four trading sources saying China planned to resume refined fuel exports after a brief holiday halt. Two participants put approved October shipments of diesel, gasoline and jet fuel together at roughly 3.7 million tonnes. The relevant Chinese authorities had not responded when the report was published, so this part remains based on market-source information.
Market perspective
Editorial assessment: oil volatility can influence carbon black, coatings and polymer supply costs through energy, feedstocks and transport, but individual grades need not track crude directly. Buyers should assess quotation validity, available stock and delivered cost together.
Main report date: 2026-10-09
Sources: Reuters — 9 October, oil market · Reuters — 8 October, settlement · Reuters — 9 October, China fuel exports