Brent Crude Holds Near $96 a Barrel Wednesday After a Sharp One Day Drop

Brent crude fell about $6.15 a barrel (nearly 6 percent) from the prior day on Tuesday, September 29, 2026, and held near $96.4 a barrel on Wednesday morning, September 30 (Tehran time), according to TGJU's price feed; Trading Economics corroborated a similar level near $96.3. Brent is now down more than 10 percent from last week's level (Thursday, September 24, at $107.4), reversing its recent multi day rally.

Trading Economics attributed the drop mainly to signs of easing Middle East supply disruption: the 10 day average of regional crude exports has recovered to about 17.5 million barrels a day, roughly 98 percent of pre war levels, Saudi Arabia has resumed flows through its East West pipeline at about half capacity, and oil continues moving through the Strait of Hormuz. The US government has also announced plans to release up to 40 million barrels from its Strategic Petroleum Reserve to ease pump prices.