Oil prices fell more than 1 per cent as investors weighed risks to supply from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels, reports Reuters.
Brent crude futures fell $1.64, or 1.6pc, to $104.42 a barrel by 0337 GMT, while US West Texas Intermediate crude futures were down 98 cents, or 1pc, to $94.11, reversing gains from the previous session.
WTI rose to a three-week high in the prior session after the Houthis attacked Saudi Aramco’s headquarters and Iran said it was deploying new tactics to target ships in the Strait of Hormuz and keep oil prices high.
