Brent Crude Price Drops Below $100 Amid Correction

Oil prices are correcting after a sharp rise in trading on Thursday.

The price of Brent crude oil, as represented by September's futures contract at the ICE Futures exchange, has dropped to $100.28 per barrel, down $0.41 (0.41%) from its previous value.

This decline comes after a significant increase in the previous session, where the contract rose by $6.62 (7.04%) and closed at $100.69 per barrel.

The price of WTI oil on the New York Mercantile Exchange (NYMEX) also decreased to $91.60 per barrel, down $0.59 (0.64%) from its previous value.