Commodities
Oil Prices Plunge as Middle East Supply Disruption Fears Abate
Oil prices continued their downward trend on Thursday in early trade, following reduced fears of supply disruptions in the Middle East.
The reduction in concerns led to a decline in oil futures, with Brent crude dropping $1.24, or 1.2%, to $104.59 a barrel, and US West Texas Intermediate (WTI) crude futures down $1.14, or 1.1%, to $101.29.
The losses marked an extension of the previous day's declines, with both benchmarks falling about $3 on Wednesday.