WTI and Brent both down 1.00% intraday; WTI at $96.32/bbl, Brent at $90.40/bbl.

Sources say ARAMCO is considering cutting the official selling price (OSP) for crude loaded in the Gulf of Oman to compensate buyers for surging freight and boost attractiveness to Asian refiners. Discussions with some Asian buyers cover potential discounts for cargoes offered this week that are due to load mid-to-late October and be sold via ship-to-ship transfers; one source put the discount being discussed at about $9/bbl. In recent weeks, barrels loaded outside the Strait of Hormuz in the Gulf of Oman have been trading at a $10–20/bbl premium to monthly OSP after Saudi increased exports from inshore fields.

Iran's foreign minister met UN Secretary-General Guterres.