Oil prices fell after a significant increase the day before, triggered by renewed concerns over fuel exports from the Middle East region, Report informs citing trading data.
December futures for Brent crude on the London ICE Futures exchange were trading at $102.93 per barrel, which is $1.35 (1.29%) lower than at the close of the previous trading session.
November futures for WTI crude on electronic trading of the New York Mercantile Exchange (NYMEX) dropped by $1.1 (1.2%) to $90.39 per barrel by this time.
Oil quotes received support on Thursday from media reports stating that the Pentagon was preparing massive strikes against Iranian energy facilities and nuclear infrastructure and could resume active military operations in the Middle East region before the November US midterm congressional elections.
However, yesterday evening, US President Donald Trump stated that the US military will not attack Iran before the midterm elections.