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Oil Prices Fall on Prospects of Increased Russian Fuel Supplies

Singapore, October 19 (QNA) – Oil prices fell on Monday after US President Donald Trump waived sanctions and tariffs on Russia, raising expectations of increased Russian fuel exports and potentially easing global supply pressures.

Brent crude futures dropped $1.94, or 1.77%, to $107.92 a barrel, retreating from Friday’s close at their highest level since May 19.

US West Texas Intermediate (WTI) crude fell 83 cents, or 0.82%, to $100.58 a barrel, after settling on Friday at its highest level since September 17. (QNA)