Oil Prices Fall More Than 3% as Middle East Supply Fears Ease

Oil prices dropped by more than 3% as immediate concerns over potential supply disruptions from the Middle East eased, according to a report by Anadolu Agency.

Brent crude, the international benchmark, fell to around $102 per barrel, the report said.

The US benchmark West Texas Intermediate (WTI) slipped below $100 per barrel, according to the same report.

Anadolu Agency attributed the decline to easing worries about immediate supply concerns tied to the Middle East region, though the report did not provide further details on the specific factors behind the shift in market sentiment.

The decline marks a notable pullback in crude prices, which have been closely watched amid broader geopolitical developments affecting global energy markets.