- BIST10011,618-0.88%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,188.80+0.18%
- INTEREST37.00%-1.00
- BITCOIN82,453+0.54%
- October 19, 202617°
- BIST10011,618-0.88%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,188.80+0.18%
- INTEREST37.00%-1.00
- BITCOIN82,453+0.54%
- October 19, 202617°
Brent crude fell 2% to $103.5 as Qatar’s mediation efforts continued
Brent crude futures fell 2% to $103.5 per barrel on Tuesday. U.S. crude also declined 2.2% to around $90, as signs of a recovery in Middle East oil supplies and mediation efforts between the United States and Iran remained in focus.
Signs that Middle East oil supplies could recover again pushed oil prices lower. Brent crude futures fell 2% to $103.5 per barrel on Tuesday, while U.S. crude futures declined 2.2% to trade at around $90.
Prices were at these levels as of 1:40 p.m. Türkiye time. Despite the decline, oil prices remained high. This is increasing pressure on fuel prices and inflation in some countries.
Flow resumes in Saudi Arabia’s oil pipeline
Oil flows resumed in Saudi Arabia’s East-West oil pipeline, which was targeted on Sept. 10. The development contributed to expectations of a recovery in oil supplies.
Bloomberg reported Monday, citing an unnamed source, that oil exports had resumed after repairs to the pipeline. Flows had reached 3.5 million barrels per day, equal to half of the pipeline’s operating capacity, Bloomberg reported.
Qatar says message exchanges between the U.S. and Iran continue
Qatar’s government said its mediation efforts to end the conflict between the United States and Iran were continuing. Doha also said that messages were still being exchanged between the two sides.
The United States and Israel launched attacks against Iran on Feb. 28, 2026, and thousands of people were killed in the fighting. Iran also carried out attacks against Israel and U.S. facilities in the region. The sides reached a ceasefire agreement in April.
The United States later carried out attacks against some targets in Iran. Disputes over maritime traffic in the Strait of Hormuz disrupted the negotiation process between the United States and Iran, while the two countries signed a memorandum of understanding in mid-June.
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