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Global oil prices dip slightly
Oil prices slightly declined on October 6, 2026, as oil exports from the Middle East continued and the G7 countries agreed to draw some emergency reserves, helping to ease fears about supply disruptions. Despite attacks on ships in the Strait of Hormuz, regional oil exports in the last days of September exceeded pre-war levels, and data confirmed that G7 nations agreed to withdraw 100 million barrels from their reserves, with a commitment not to impose export restrictions. However, tensions between Saudi Arabia and the Houthi rebels in Yemen—who are allied with Iran—remain a concern for the stability of supplies from the world's largest oil exporter.
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