Brent crude price drops 1% amid trade expectations

Global oil prices fell by 1% on Friday afternoon amid trade expectations, though weekly growth is projected at around 5%.

According to Report, citing trading data, the October Brent futures price decreased by 0.99% to $70.99 per barrel, while September WTI futures fell by 1.01% to $68.56.

Since the start of the week, prices are set to show an approximate 5% increase, driven by gains earlier in the week following U.S. President Donald Trump’s Monday statement about his intention to shorten the previously set 50-day deadline for achieving a truce between Russia and Ukraine to 10–12 days.