Baghdad:Oil prices experienced a decline of one percent on Thursday, attributed to enhanced crude exports from the Gulf and increased US inventories, which alleviated supply concerns.

According to National Iraqi News Agency, Brent crude futures decreased by 1.1% to $96.92 per barrel, while US West Texas Intermediate crude fell by 1.4% to $89.18 per barrel.

Both benchmarks had seen an increase of roughly a dollar per barrel on Wednesday. In terms of monthly performance, Brent crude saw a significant rise of about 14% in September 2026, marking its largest increase since July. West Texas Intermediate also recorded a monthly increase of approximately 5%.