[International Oil Prices] Fall After One-Day Rebound, Down Around 5% for the Week

[Financial News]  

International oil prices turned lower on the 28th (local time). After rebounding the previous day for the first time in four sessions, prices reversed course again after just one day. On a weekly basis, they fell by around 5%.
Brent Crude Oil for October delivery, the global benchmark, closed down $0.39, or 0.43%, at $89.31 per barrel.
West Texas Intermediate crude oil (WTI) for October delivery, the U.S. benchmark, finished down $0.13, or 0.16%, at $83.40 per barrel.
Over the five trading days this week, oil prices fell on every day except the 27th, leaving both benchmarks sharply lower on a weekly basis.
Brent Crude Oil plunged 5.38% over the week, while WTI fell 4.2% over the same period.
Although oil prices declined, the slowdown in crude supply has continued, and talks between the United States and Iran remain far from resuming, with only the war absent.
In a note on the 27th, Goldman Sachs estimated that oil exports from Gulf producers have recently been 15 million to 16 million barrels per day, or 7 million to 8 million barrels per day below prewar levels. However, that is still 5 million to 6 million barrels per day above the low recorded in March, shortly after the war began.

[email protected] Song Kyung-jae Reporter