Oil Prices Settle Lower: WTI Drops to $88.28 per Barrel

WTI crude oil contracts fell 1.3% while Brent dropped to roughly $100 per barrel amid daily trading fluctuations.

Oil prices settled lower at the close of trading, financial news outlets MarketScreener and Newsquawk reported. According to the reports, the US crude benchmark West Texas Intermediate (WTI) for November delivery fell by $1.16, or approximately 1.3%, settling at $88.28 per barrel.

Meanwhile, the December contract for Brent crude fell by 41 cents, or 0.4%, to $100.17 per barrel. The dip follows earlier moves this week when Brent crossed above the $101 threshold.

The precise market drivers behind the price declines at the close of trading were not detailed in the reports, and further information has not yet been provided.