OREANDA-NEWS During trading on Tuesday, September 29, the exchange price of the benchmark North Sea Brent crude oil began to decline. This is evidenced by data from Investing.

By 19:55 Moscow time, commodity quotes had fallen to $96.76 per barrel. The decline compared to the closing level of the previous trading session at that time amounted to 1.09 percent, or $1.07. At the minimum, quotes fell to $95.76.

Experts attribute the decline in the cost of raw materials primarily to the increase in exports from Saudi Arabia. Earlier, the Middle Eastern country reported the resumption of oil shipments from the port of Yanbu, located on the Red Sea coast.

“Isolation on an unprecedented scale.” Trump announced a new operation against Iran and threatened the countries supporting it. August 20, 2026 The increase in raw material exports from the Middle East has become possible as flows along the East–West pipeline gradually normalize; the pipeline was attacked by Yemeni Houthi rebels in the first half of September. “A clearer picture is emerging of increased oil export volumes from the Persian Gulf,” said Tim Waterer, chief analyst at KCM Trade.

However, the key logistics artery in the region — the Strait of Hormuz — remains blocked amid the lack of progress in peace negotiations between the United States and Iran. A significant portion of the increase in raw material shipments from the Middle East, Waterer explained, is still due to circumvention routes, such as transshipment of oil from vessel to vessel. All of this increases exporters’ costs, which helps maintain oil prices at a high level, the expert stated.