Oil prices fell to their lowest level in four weeks on Tuesday, with Brent crude and U.S. West Texas Intermediate (WTI) futures declining 1.17 USD and 37 cents, respectively. The Saudi Press Agency reported the drop in a market update released from New York on November 4, 2026.
The Saudi Press Agency noted that Brent settled at $103.60 a barrel, a decrease of 1.17 USD, or 1.1 percent, from the previous close. WTI futures closed at $96.09 a barrel, down 37 cents, or 0.4 percent.
Both benchmarks fell at the open of the New York session, with the Saudi Press Agency highlighting the downward movement as indicative of a broader slowdown in the world oil market during the week. The Agency’s report did not discuss underlying supply or demand factors.
Industry participants watching the market may view the decline as a sign that prices could remain under pressure in the near term. The Agency’s brief update focused solely on the settlement figures, noting the new lows reached for Brent and WTI.
Investors and traders monitoring the Saudi Press Agency’s reports will likely compare these figures against previous weeks’ data, as the settlement levels for both grains of crude are the lowest recorded in the past four weeks. The Agency’s statement frames the price change as a market correction.
Although the Saudi Press Agency’s report ends with the closing prices, it signals that the oil market experienced its fourth weekly decline to a flat low overall, placing pressure on producers and potentially affecting global energy pricing forecasts.
