Brent crude prices had gone up at the beginning of October, touching US$86 per barrel but as of October 29, Nasdaq shows prices at around US$77.02 per barrel.The fuel prices for November have been announced by the Ministry of Energy and Industry.
A lot of the market fluctuations can be attributed to the U.S. announcements of sanctions on countries importing oil from Iran, in addition to the production deals in effect between Opec countries. Analysts expect the price to go up to US$80 per barrel once the sanctions come into effect on November 4.