Business Desk- Crude Oil Price Today: A slight decline is being seen in the prices of crude oil on 5 October 2026 i.e. Monday, the first trading day of the week. At 6:45 am, Brent Crude fell 0.29% to $101.995 a barrel and WTI Crude fell 0.72% to $90.461 a barrel. However, despite this decline, oil prices still remain at high levels.
Behind this decline is a big decision of the G7 countries. G7 announced last week that 100 million barrels of oil would be supplied in the next 4 months. Apart from this, the supply of oil through other alternative routes including the Persian Gulf is also gradually becoming normal. On the other hand, traders are assessing Middle East risk, as rising tensions in West Asia could push prices higher again at any time.
How many dollars did Crude Oil reach today?
At 6:45 am on Monday, the price of Brent Crude fell by 0.29% to $ 101.995 per barrel. Whereas WTI Crude fell 0.72% to $ 90.461 per barrel.
That means, pressure has been seen in both the major Crude Oil Benchmarks in early trading. However, there is still uncertainty in the market and news related to the Middle East may decide the direction of prices in the coming days.
Why is the G7 decision important?
Amid rising oil prices in America, G7 countries have announced to supply 100 million barrels of oil in the next 4 months. There is pressure on prices due to the expectation of additional supply coming into the market.
Along with this, OPEC has agreed not to change the oil production quota next month. The news of normalization of supply from other alternative routes including the Persian Gulf is also a relief for the market.
Prices may increase again due to Middle East tension
At present, there is a decline in crude oil, but Middle East Tension remains the biggest concern of the market. Traders are constantly assessing how much the increasing tension in West Asia could affect oil supply.
Saudi-backed forces in Yemen have launched military operations to take back areas from the Houthis. There is a possibility of increasing regional tension due to this. At the same time, America has also indicated to increase the number of troops in Western Asia. In such a situation, if tension increases then Crude Oil Price may rise again.
Petrol-Diesel prices changed in India?
Despite the fall in crude oil prices, there was no change in the prices of petrol and diesel in India on Monday. Government Oil Marketing Companies have kept the prices of petrol and diesel stable.
India is among the major oil importing countries of the world. Therefore, the fall in crude oil prices brings relief to the country. But current prices are still much higher than pre-war levels.
Indian oil marketing companies have been facing losses for a long time due to high crude oil prices. Despite this, companies are not increasing the prices of petrol and diesel, so that the direct burden of expensive oil does not fall on the common people. That is, at present there are definitely signs of relief in the international market, but due to Middle East Risk, Petrol-Diesel Price will remain under watch in future also.