News / Regional

Oil eases as traders weigh supply recovery and G7 reserve plans

The 5 October intraday snapshot captures benchmark prices, not closing levels or Iraq’s realised export price.

At 15:59 GMT on 5 October, Reuters quoted Brent at $101.15 a barrel and WTI at $90.22, both lower. Its report weighed recovering Middle Eastern exports and a G7 pledge to release 100 million barrels of crude and diesel against continuing disruption fears.

Reuters said the overlap with an earlier emergency-release agreement remained unclear. The pledge should therefore not be treated as wholly additional supply. For Iraq, this is a dated market benchmark: actual receipts depend on Iraqi sales volumes and applicable selling terms. Subsequent trading can change the price picture.

Sources

Reuters · Nicole Jao and Seher Dareen

Source published or updated: 5 Oct 2026 · Sources checked: 5 Oct 2026.

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