New York: Global crude oil prices edged lower during Asian trading on Thursday, extending the previous session’s losses. However, prices remained above the $100-per-barrel mark as concerns persisted that the ongoing conflict in the Middle East could escalate further.
By 0347 GMT, Brent crude futures had declined by 19 cents, or 0.2%, to $105.64 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures fell 33 cents, or 0.3%, to $102.10 per barrel.
Both major international oil benchmarks had dropped by around $3 per barrel on Wednesday.
The decline in oil prices comes as concerns over potential supply disruptions have eased somewhat following reports that Saudi Arabia is offering additional crude cargoes to Asian buyers through Oman.
Despite the recent pullback, market participants continue to closely monitor developments in the Middle East, with the potential for further escalation remaining a key factor influencing global oil prices.
