OIL PRICES FALL FOR 4TH CONSECUTIVE TRADING DAY – The drop eased Middle East tensions
International oil prices fell for the fourth consecutive trading day as market concerns over tensions in the Middle East continue to wane, easing worries on global energy supplies.
The West Texas Intermediate for October delivery lost 4.52 U.S. dollars to settle at 95.78 dollars a barrel on the New York Mercantile Exchange.
Brent crude for November delivery dropped 3.53 dollars to settle at 100.34 dollars a barrel on the London ICE Futures Exchange.
The Saudi Ministry of Energy previously announced that the vital pipeline, which carries crude oil from its eastern fields to the Red Sea port of Yanbu, bypassing the Strait of Hormuz, was preemptively shut down after facing multiple attacks in the Riyadh and Medina regions.
