Oil prices fall on supply forecast, easing risk

Brent crude oil futures settled at US$67.52 a barrel down US$1.88, or 2.71%. US West Texas Intermediate crude finished at US$62.84 a barrel, down US$1.79, or 2.77%.

HOUSTON: Oil prices dropped on Thursday due to falling demand, retreating fears of renewed Middle East conflict and expected increases in supply.

Brent crude oil futures settled at US$67.52 a barrel down US$1.88, or 2.71%. US West Texas Intermediate crude finished at US$62.84 a barrel, down US$1.79, or 2.77%.