Oil prices declined on Wednesday after three straight trading sessions of gains, as investors monitored global demand trends and geopolitical developments affecting energy markets.
According to Reuters, Brent Crude futures fell 82 cents, or 0.76 percent, to trade at $106.95 per barrel at 0051 GMT.
Meanwhile, West Texas Intermediate (WTI) crude futures dropped 66 cents, or 0.65 percent, to $101.52 per barrel.
The pullback follows a recent rally in oil prices driven by ongoing geopolitical tensions and concerns over global supply disruptions, particularly surrounding developments in the Middle East and the security of key shipping routes.
Market participants continue to monitor crude inventories, global economic indicators, and potential supply risks that could influence price movements in the coming sessions.
