World oil prices have started dropping for the first time in a week after the denial of reports about a blast at an oil pipeline in Saudi Arabia, Bloomberg reports.
WTI (US) oil price dropped by 0.23% by 9.35 am, totaling $108.55 per barrel.
Futures for Brent oil dropped by 0.40% in prices to $125.69 per barrel.
Media reported about a blast at an oil pipeline, provoking an increase of price by 1.7% to $110 per barrel for WTI, for the first time since May 2011. Brent oil reached a 4-years’ record of $128.40 after an increase by 4.7%.
