Oil prices fell on Tuesday after Saudi Arabia announced that it is ready to support energy market, Reuters reports. However, investors are still concerned about approaching US sanctions that will take effect on November’4th.

Price of Brent oil fell by 0,6% to $79,33 per barrel. WTI oil fell by 0,3% to $69,14 per barrel.

Data issued today showed that South Korea cut import from Iran to zero.

Saudi Arabia in turn assured that it is ready to supply enough oil to the market despite of rising tension after killing of Saudi journalist. Moreover, there are already signs of increasing supply from Middle East.

Bank J.P. Morgan meanwhile raised Brent oil forecast for 2019 to $83,50 per barrel.

However, not everyone is so optimistic. Shipping brokerage Eastport informed that it expects price falling in next months due to rising US drilling.