At the start of the week's trading, the prices of crude oil and petroleum products in Iran's domestic market have faced a decline. North Sea Brent is priced at $104.32 per barrel, and Iran's light oil is traded at $103.67. Additionally, West Texas Intermediate (WTI) has also decreased by 2.45% to $92.45 per barrel.
Analysis of Crude Oil Prices
Iran's heavy crude oil has also been traded at $101.57 per barrel at the beginning of this week. The OPEC oil basket has decreased by 0.33% to $103.37. The decline in prices in the crude oil market indicates downward pressures on these commodities, which depend on various factors including global changes and market demand.
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In the domestic market, the equivalent price of Brent oil is reported at 24,453,651 tomans, and the domestic equivalent of WTI oil is 21,671,205 tomans. These figures indicate a decrease in prices compared to previous weeks. Iran's light oil was priced at $103.67 per barrel in the first inquiry of the week, registering a decrease of 0.33%.
Situation of Petroleum Products
In the products sector, the situation is not uniform. Persian Gulf naphtha has increased by 1.15% to $645 per ton, and LPG has also risen by 1.40% to $590. Meanwhile, jet fuel and kerosene have increased by 0.60%, and vacuum bottom has risen by 0.80%. Overall, some refinery products are in the positive range, while 10ppm diesel has faced a decline of 3.91% and super gasoline FOB Persian Gulf has decreased by 3.67%.
This data indicates that the crude oil market is currently under downward pressure, while some refinery products are experiencing growth. This situation could lead to price changes in the coming days, and therefore, subsequent market inquiries are of special importance for a more accurate assessment.
Since the above information pertains to the beginning of the week and the current market inquiry on Saturday, October 4, these figures cannot be considered as a definitive trend for the entire day. Changes in crude oil and product prices during the ongoing trading may affect the recorded rates.
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