Brent and WTI crude oil prices fall by close of trading

Oil prices are retreating following gains in the previous session, according to the latest trading data.

January Brent crude futures on the London-based ICE Futures exchange are trading at $95.52 per barrel—down $0.30, or 0.31%, from the previous session's close.

December WTI crude futures on the New York Mercantile Exchange (NYMEX) electronic platform fell by $0.51, or 0.57%, to $88.23 per barrel.

Early Thursday, Iran's Islamic Revolutionary Guard Corps (IRGC) reported explosions in the Strait of Hormuz involving two supertankers carrying a combined 4 million barrels of oil; the vessels were reportedly attempting to use a route not approved by Tehran.

Oil prices had also received support the previous day following a statement by U.S. President Donald Trump, in which he indicated that Washington no longer sees a need for an agreement with Iran.

Houthi rebels in Yemen also reported two drone attacks targeting Saudi Arabia's energy infrastructure: a pumping station on the East-West Pipeline and an oil facility in Yanbu.