Gulf Oil Exports Rebound as Brent Slips Below $100, but UAE Motorists and Markets Still Feel the Strain
Brent crude fell under $100 a barrel on Tuesday as data showed Middle East exports recovering toward pre-war levels, helped by pipelines that bypass the Strait of Hormuz. Producers and analysts caution that stockpiles are thin and new attacks in Yemen and Saudi Arabia could reverse the improvement. In the UAE, petrol prices remain well above September levels.
UAE Petrol Prices Hit Their Highest Levels This Year as Brent Holds Above $100
UAE pump prices rose again on 1 October, the third straight monthly increase, with Super 98 now at Dh4.40 a litre. Brent crude is above $100 and a G7 stock release has only partly offset the Middle East supply risk.
UAE Petrol Prices Jump About 16% for October, Adding Pressure to Household Budgets
uel prices announced for October are around 16 per cent higher for petrol and about 12 per cent higher for diesel. Retail rates have risen more than 60 per cent since the regional war began on 28 February.