Singapore: Oil prices fell on Friday in Asian trading, dropping by about one percent and extending their decline for the third consecutive session, but remained above $100 a barrel. Hopes for finding alternative routes to get Middle Eastern oil to markets outweighed concerns about regional unrest.
According to National Iraqi News Agency, Brent crude futures fell $1.01, or one percent, to $103.77 a barrel, while U.S. West Texas Intermediate crude futures dropped $1.03, or one percent, to $100.88 a barrel. Both benchmarks settled down about one percent on Thursday.
Oil prices had risen this week to their highest levels in nearly four months.