Oil prices decline amid Middle East developments and IEA report
Istanbul, October 15 (Hibya) - Oil prices in international energy markets declined during the week's new trading session following developments in the Middle East and the release of a report by the International Energy Agency (IEA). Brent crude fell 1.61 percent to $104.35 per barrel, while natural gas prices bucked the broader trend, gaining 2.22 percent.
Energy commodities in global markets mostly faced selling pressure as investors assessed tensions in the Middle East and the International Energy Agency's report.
In early trading, Brent crude oil fell by $1.71 (1.61 percent) to $104.35 per barrel. US West Texas Intermediate (WTI) crude also declined by $1.04 (1.09 percent), trading at $94.05.
Refined fuel products also recorded losses. RBOB gasoline prices dropped by $0.0634 (1.95 percent) to $3.1961, while heating oil (ULSD HO) declined by $0.059 (1.20 percent) to $4.8684.
In contrast to the overall downward trend in the energy sector, natural gas prices rose. Natural gas gained $0.071 (2.22 percent) to reach $3.269.
British News Agency
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