Oil prices fall as Brent drops below $108 and WTI slips under $101

After about four hours of trading, Brent crude futures had fallen to $107.95 per barrel. US WTI crude had fallen to $100.69 per barrel.

Last week, oil prices rose. At Friday’s close, Brent was at $109.86 and WTI at $101.41.

No fighting between Iran on the one hand and the US and Israel on the other was reported this weekend.

But the Iran-backed Houthi movement in Yemen has launched new attacks on Saudi Arabia’s oil industry. Ukrainian attacks on oil and gas facilities in Russia have also been carried out as part of Kyiv’s defensive war against the Kremlin.

Before the US and Israel launched the war against Iran on February 28, oil cost around $70.