Brent oil falls to $87.92 per barrel

Oil prices fell slightly on October 25 morning amid some easing of fears of an immediate escalation of the conflict in the Middle East, reported from trading data.

December Brent futures fell by 0.15 (0.17%) to $87.92 per barrel on the London ICE Futures exchange.

By this time, December futures for WTI fell in price on the New York Mercantile Exchange NYMEX by $0.2 (0.24%), to $83.54 per barrel.

The market remains concerned about the possibility of an escalating conflict between Israel and Hamas and a reduction in oil supplies from the region as a result, but such concerns have recently eased somewhat due to calls for Israel to reconsider plans for a ground operation in the Gaza Strip, Interfax reports referring to MarketWatch.

Traders are waiting for data from the US Department of Energy on energy reserves in the country.

Estimates from the American Petroleum Institute (API), published overnight from Tuesday to Wednesday, showed a decrease in US oil inventories in the week ending October 20 by 2.668 million barrels.

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