Brent crude today: $102.60 — oil falls as Iran reviews Hormuz reopening plan


Brent crude is $102.60 a barrel, down 1.61 PERCENT today. WTI is $90.18, down 1.43 PERCENT. The Brent-WTI spread sits at $12.42. Oil fell after reports that Iran is reviewing a Qatari-mediated 7-day plan to reopen the Strait of Hormuz — the waterway that normally carries about 20 million barrels a day, a fifth of world supply. Europe, meanwhile, enters winter with gas storage only 72 PERCENT full, the lowest ever for this point in the season, with Germany at 59 PERCENT. Prices update every morning here.

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