Oil Prices Fall 1.6% to $104.39 as Traders Weigh Gulf Supply
December Brent crude futures fell 1.6% to $104.39 a barrel as traders weighed signs of recovering Middle East supplies and a weaker demand outlook against shipping risks around the Strait of Hormuz.
Oil prices declined Thursday, giving back gains from the previous session. Traders assessed signs of a recovery in Middle East crude supplies and a softer demand outlook alongside continued shipping risks near the Strait of Hormuz. 39 a barrel.