KARACHI (Commerce Desk): Global crude oil prices have registered a slight decline as investors remain cautious amid possible US measures to ease restrictions on oil tankers.
According to reports, Brent crude futures fell by 41 cents, or 0.39 percent, to $105.51 per barrel, while US West Texas Intermediate (WTI) crude declined by 54 cents, or 0.55 percent, to $97.43 per barrel.
The decline comes as the International Energy Agency (IEA) has agreed to release additional oil from emergency reserves to ease pressure on global supplies. Under the plan, announced in March, more than 20 million barrels of diesel and the remaining oil stocks will be released.
According to a news agency, a US official said the administration of President Donald Trump was also considering lifting restrictions on certain vessels that have transported oil from various countries, including Russia, Iran and Venezuela, in an effort to reduce record-high shipping costs.
Meanwhile, concerns over regional energy supplies persist following renewed attacks on vessels near the Strait of Hormuz and escalating tensions involving Saudi Arabia and Yemen’s Houthi movement.