India, Oct. 2 -- Oil prices declined on Friday, continuing the downward trajectory observed throughout the trading session, coinciding with an announcements regarding a prospective initiative to discharge supplementary diesel and crude reserves in order to mitigate a worldwide supply deficit.

Brent crude futures, serving as the international benchmark with December maturity, experienced a decline of 2.6% to $99.65 per barrel, whereas U.S. West Texas Intermediate futures with November maturity decreased by 4% to $89.11.

This development emerged shortly following a Reuters report suggesting that European Union member states were deliberating a French initiative to discharge additional diesel reserves in response to pressure exerted by the...