Brent crude dropped 2.90% to $97.41 a barrel on Tuesday, October 6, 2026, while West Texas Intermediate (WTI) declined 2.82% to $86.91.
The sharp retreat extends last week’s softer tone, with both benchmarks losing significant ground as traders focused on improving physical supply from the Middle East. Higher loadings through the Strait of Hormuz and continued flows via Saudi Arabia’s East-West pipeline have reduced some of the earlier disruption fears that had supported prices.
Geopolitical risk remains present amid the unresolved U.S.-Iran situation, but the market has shifted emphasis toward supply recovery after recent volatility. The move takes Brent further below the $100 level it briefly reclaimed earlier in the week.
This latest decline continues the volatile pattern seen since mid-September, with prices swinging on shifting assessments of Middle East flows and diplomatic developments. Traders will watch for any fresh signals on export volumes or progress in mediated talks in the coming sessions.
