🔴 Brent Oil ETF (BNO) is trading 3.3% down as EU stock-release talks ease supply concerns

BNO is trading at $60.88 (-3.29%) as EU stock-release discussions ease supply-tightness concerns.

• Proposed releases of 50 million barrels of diesel and 50 million barrels of crude were reported; Brent fell 2.51% to $99.74 at 1035 GMT.
• The weak September jobs report may add demand concerns; recovering Middle East flows also weighed on supply fears.
• The pullback reversed the preceding surge, which had been supported by China’s fuel-export suspension and Middle East tensions.