Oil falls more than US$2 on easing Middle East fears

Brent crude futures settled at US$87.93 a barrel, sliding US$2.20 or 2.44%. US West Texas Intermediate crude futures finished at US$83.21 a barrel, down US$2.18, or 2.55%. — Reuters

HOUSTON: Oil prices fell more US$2 a barrel on Thursday as fears of a wider Middle East conflict eased at the same time that US demand showed signs of weakening.

Brent crude futures settled at US$87.93 a barrel, sliding US$2.20 or 2.44%. On Wednesday, Brent settled nearly 2% higher. US West Texas Intermediate crude futures finished at US$83.21 a barrel, down US$2.18, or 2.55%.