Oil prices fall, but Brent crude holds above $104
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Crude oil prices fell more than two dollars during trading today, Sept. 17, but remained above the $100 level due to concerns about the widening scope of the conflict in the Middle East.
Brent crude futures, the most actively traded, touched $103.62, while US crude fell to $100.39, after both crudes ended trading on Wednesday – down about $3 a barrel.
Singapore-based DBS Bank expects Brent crude prices to range between $85 and $95 in the fourth quarter if the Middle East conflict eases, Reuters reported.
However, Suvro Sarkar, the bank’s Head of Energy Research, warned that if the scenario of continued attacks in the Strait of Hormuz continues, prices could jump to levels of $120 a barrel.
|
Brent, WTI Futures Prices |
|||
|
Crude |
Price ($/bbl) |
Change ($) |
Change |
|
Brent (November delivery) |
104.07 |
1.76 |
(1.65%) |
|
WTI (October delivery) |
100.80 |
1.63 |
(1.60%) |
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