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Brent crude falls to $108.44
Global oil prices declined at the end of today's trading session after a highly volatile period, as Brent crude fell by 1.01% to reach $108.44 per barrel, following its highest level in five months at $111.99. The decline is attributed to escalating geopolitical tensions and attacks on energy infrastructure in the region, including assaults on maritime vessels and damage to vital facilities, which heighten fears of disruptions in oil supplies. The United States is working to boost oil production and operate refineries, while the market's attention is focused on U.S. oil inventory data, which could further support prices in the near future.
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