The price of Brent oil fell by 3% following the withdrawal from the $112 channel. The price of Brent crude oil, as an international oil index, reached on Tuesday 10/20 (10/28) about $106 per barrel, a decrease of about 3% and reversed its initial upward trend, which approached the $112 mark. This international benchmark traded at $106.18 at 14:40 GMT, down $3.37 (equivalent to 3.07%) from the previous day's close. The drop left Brent nearly $6 below its intraday high, sparking a sharp market rally. The pullback came after markets followed reports of diplomatic efforts between the United States and Iran. According to these reports, Qatar and Pakistan presented a compromise proposal, which reportedly received the initial approval of Washington and Tehran. This proposal includes secret inspections by the International Atomic Energy Agency of Iran's nuclear sites. Of course, these reports could not be verified independently. Despite the drop on Tuesday, the price of Brent oil remains about 6.8% higher compared to the previous month and shows an increase of nearly 75% compared to the same period last year. Meanwhile, natural gas prices in Europe fell 3 percent to 85.30 euros ($95.80) per megawatt hour on hopes for a diplomatic solution to the war with Iran, retreating from their highest level since December 2022. However, restrictions on LNG shipments from the Persian Gulf continue to raise concerns about Europe's ability to secure gas supplies before the cold season arrives. European gas reserves stood at 74.47 percent of total capacity on Monday, which is still below normal levels for this time of year.

The price of Brent oil fell by 3% following the withdrawal from the $112 channel. The price of Brent crude oil, as an international oil index, reached on Tuesday 10/20 (10/28) about $106 per barrel, a decrease of about 3% and reversed its initial upward trend, which approached the $112 mark. This international benchmark traded at $106.18 at 14:40 GMT, down $3.37 (equivalent to 3.07%) from the previous day's close. The drop left Brent nearly $6 below its intraday high, sparking a sharp market rally. The pullback came after markets followed reports of diplomatic efforts between the United States and Iran. According to these reports, Qatar and Pakistan presented a compromise proposal, which reportedly received the initial approval of Washington and Tehran. This proposal includes secret inspections by the International Atomic Energy Agency of Iran's nuclear sites. Of course, these reports could not be verified independently. Despite the drop on Tuesday, the price of Brent oil remains about 6.8% higher compared to the previous month and shows an increase of nearly 75% compared to the same period last year. Meanwhile, natural gas prices in Europe fell 3 percent to 85.30 euros ($95.80) per megawatt hour on hopes for a diplomatic solution to the war with Iran, retreating from their highest level since December 2022. However, restrictions on LNG shipments from the Persian Gulf continue to raise concerns about Europe's ability to secure gas supplies before the cold season arrives. European gas reserves stood at 74.47 percent of total capacity on Monday, which is still below normal levels for this time of year.