Oil Prices Dip Below $104 as Regional Unrest Fears Ease

Oil prices dropped by around one percent in Asian trading on Friday, extending their slide for a third consecutive session. Despite fears of regional unrest, optimism over finding alternative routes to get Middle East oil to market kept prices above $100 a barrel.

Brent crude futures fell $1.01, or one percent, to $103.77 a barrel, while U.S. West Texas Intermediate (WTI) crude futures slid $1.03, or one percent, to $100.88 a barrel. This decline is a continuation of the drop from yesterday's settlement.

Oil prices had earlier reached their highest levels in nearly four months this week.