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Oil prices fall as investors weigh supply outlook, Middle East tensions
BEIJING: Oil prices fell more than $1 in early trade on Thursday as investors weighed risks to supply from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels. Brent crude futures fell $1.39, or 1.31%, to $104.67 a barrel by 0116 GMT, while US West Texas Intermediate crude futures were down $1.02, or 1.07%, to $94.07, reversing gains from the previous session. WTI rose to a three-week high in the prior session after the Houthis attacked Saudi Aramco’s headquarters and Iran said it was deploying new tactics to ta...
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