Oil prices drop as Europe decides to release diesel reserves
06:40, 3 October 2026
Oil prices settled lower on Friday after European leaders agreed to a request by US President Donald Trump to release diesel from their reserves in an effort to lower prices and reduce reliance on US fuel imports, WAM reports.
Brent crude futures fell 6 cents, or 0.06 percent, to settle at US$102.25 a barrel, while US West Texas Intermediate (WTI) dropped $1.76, or 1.90 percent, to $91.11 a barrel.
For the week, Brent gained 0.11 percent, while WTI declined 1.6 percent.
Earlier, Qazinform News Agency reported that U.S. President Donald Trump had said Washington may ask European countries to release emergency diesel reserves as it seeks to curb fuel prices driven higher by the war with Iran.