The price of Brent crude dipped below 91 dollars per barrel for the first time since early September, according to data cited by TASS from the London ICE market. Traders watched as Brent briefly touched 90.95 dollars per barrel at 17:41 Moscow time, before quickly rebounding to 91.06 dollars per barrel three minutes later.
Market observers note that the movement came as markets digested a mix of supply considerations and policy signals. The same report indicates a shift in fiscal measures affecting Russian oil, with new duties on exports slated to begin October 1. The levy is set to rise by two and a half dollars to 23.9 dollars per ton, a change expected to influence the overall cost structure for shipments from Russia.
Context from the period shows a broad compare and contrast among benchmark and regional prices. The August 15 to September 14 average for Urals crude stood at 77.03 dollars per barrel, while the dated Brent quote, a closely watched North Sea benchmark, registered 88.61 dollars per barrel. These figures help illustrate the price environment across different grades and regions during the same window.
In addition to export duties, October 1 also brings an uptick in the tax on light petroleum products, with the rate rising to 7.1 dollars per ton. Market participants factor this into notable price movements and the overall economics of crude product flows.
On the demand side, reports from late September point to a narrative in which major producers such as Saudi Arabia and Russia earned substantial revenues amid ongoing oil market dynamics and the broader context of a sanctioned or embargo-influenced landscape. Analysts emphasize that policy actions and geopolitical signals can exert a meaningful influence on pricing, even when individual price levels show brief volatility.
Historical patterns noted by observers include moments when oil prices retreat toward the 50-dollar range, though such lows are typically framed within broader market factors and policy developments. The current data reflects the complexity of balancing supply, taxation, and global demand as markets digest evolving conditions.