Oil prices have fallen sharply

On the morning of Tuesday, October 3, December futures for the benchmark Brent crude oil fell below $90 per barrel for the first time since September 8, according to data London ICE Exchange.

As of 7:30 Moscow time, Brent was trading at $89.9, at its minimum the price reached $89.6. The day before, the cost of the variety exceeded $93 per barrel, and the September maximum was 97 rubles.

One of the main reasons was the statement of the Turkish leadership this week about the resumption of oil flow through the pipeline from Iraqi Kurdistan, which was stopped six months ago due to lack of agreements. Before the problems began, the region exported up to 450 thousand barrels per day.

The second factor putting pressure on oil was the situation in the United States. The government avoided a partial shutdown, leading to a stronger dollar, and economic data fueled concerns about rates being kept high longer than expected, which could slow economic growth.

Against this background, the dollar exchange rate on the Moscow Exchange at the beginning of the morning session rose above 100 rubles, which happened for the first time since August 14. Over the course of a day, it grew by more than two rubles.