Oil Prices Ease as Supply Concerns Fade: Brent Slides to $93.40

Brent crude’s October futures fell 0.4% to $93.40 on the back of increased flows through the Strait of Hormuz and the United States’ economic pressure signals toward Iran.

Reopened Flow Through the Middle East

■The U.S. military has reportedly created a covert corridor allowing 10 million barrels per day to pass the Strait, easing global supply constraints.

■This volume represents roughly half of pre‑conflict levels and significantly mitigates supply shocks.

■Each night, 15‑20 tankers are said to transit the southern channel under the operation.

Washington’s Strategic Economic Leverage

■Vice President JD Vance emphasized that “economic pressure” is the most effective tool against Iran, calming market nerves.

■The statement dampened fears of an imminent escalation, providing downward support for oil prices.

■The U.S. commitment to a Gaza peace plan further curbed regional risk premiums.

Stock and Production Data Outpace Market Forecasts

■EIA data show U.S. commercial crude inventories rose to 428.8 million barrels, surpassing the market’s expectation of ≈ 428 million.

■Gasoline stocks increased by 700,000 barrels to 209.4 million barrels.

■Daily crude output climbed by 25,000 barrels to 13.83 million barrels.

■WTI October futures settled at $86.34 per barrel.

Technical Levels and Near‑Term Outlook

■Brent’s key technical window sits between $92.67 support and $93.87 resistance.

■Trading within this band suggests limited volatility and may prompt investors to rebalance positions.

Kerem Tufan – Director of Commercial Credit and Central Bank Policies: The easing of oil supply pressures, especially the additional flow through the Strait of Hormuz, could temper global inflationary forces and, by extension, reduce financing costs for Turkish SMEs. Yet, a resurgence of geopolitical tensions could reignite energy price volatility, straining short‑term credit liquidity. The Central Bank should closely monitor this supply‑demand inflection point when calibrating monetary policy.