PTT Public Company Limited reported the oil market situation for the week of August 31 to September 4, 2026, with average Brent crude oil prices at $89.28 per barrel, down $3.06, while West Texas Intermediate stood at $83.31, down $2.52, and Dubai at $92.32, down $0.71. Gasoline octane 95 was at $115.88, down $1.93, and diesel at $154.37, down $9.32. The market still faces risks from the conflict between the United States and Iran, which have resumed retaliatory attacks, with the U.S. striking Iranian rocket launchers on Larak Island and Iran responding by attacking U.S. bases in Jordan. Meanwhile, Goldman Sachs estimates that oil exports from the Gulf countries have increased nearly threefold from the low point in March 2026 to 15-16 million barrels per day, about two-thirds of pre-war levels. President Donald Trump announced plans to fill the U.S. Strategic Petroleum Reserve with Venezuelan crude, which currently stands at 290 million barrels, the lowest in 44 years. Venezuela has also revealed a 25-year energy agreement with the U.S. to increase production to 1.50 million barrels per day from the current 1.25 million barrels per day.
PTT Public Company LimitedPTT reports weekly oil prices declined, with Brent down $3.06 and diesel down $9.32, amid rising Gulf exports and plans to boost supply from Venezuela and the US SPR.
Goldman Sachs Group Inc
