Oil Markets Slide as Crude Benchmarks Fall Up to 3%

Global oil markets came under renewed pressure in trading, with major crude benchmarks declining sharply while natural gas and refined products showed mixed performance, reflecting uneven demand signals across the energy complex.

West Texas Intermediate (WTI) crude fell to $90.54 per barrel, down $2.50 or 2.69%, as U.S. benchmark prices extended losses amid broader market weakness. International benchmark Brent crude dropped to $93.01, slipping $2.02 or 2.13%, while regional benchmark Murban crude declined to $91.17, down 2.49%.

The downward momentum was also visible in WTI Midland, which recorded a sharper decline of 3.05% to $90.83 per barrel, highlighting continued volatility across U.S. crude grades. The OPEC Basket eased to $101.60, down 2.37%, though it remained above the $100 threshold. The Indian Basket was unchanged at $100.10, signaling relative stability in Asian import pricing.

Latest Oil Prices:

WTI Crude $90.54 -2.50 -2.69%

Brent Crude $93.01 -2.02 -2.13%

Murban Crude $91.17 -2.33 -2.49%

WTI Midland $90.83 -2.86 -3.05%

Opec Basket $101.6 -2.47 -2.37%

Indian Basket $100.1 +0.00 +0.00%

Natural Gas $3.229 -0.107 -3.21%

Gasoline $3.046 +0.008 +0.25%

Heating Oil $3.587 -0.086 -2.35%

Natural gas prices also weakened, falling 3.21% to $3.229, reflecting ongoing volatility in supply-demand expectations and shifting sentiment across energy markets.

Refined fuels showed a more divergent pattern. Gasoline prices edged slightly higher to $3.046, gaining 0.25%, suggesting resilient short-term demand conditions. In contrast, heating oil dropped 2.35% to $3.587, tracking the broader weakness in crude oil markets.

The session reflected widespread selling pressure across global crude benchmarks, with declines ranging between 2% and 3% across major grades. However, the divergence in refined products points to uneven consumption trends, with gasoline showing relative strength while heating oil continues to face downward pressure.