Oil prices fell more than $1 in early trade on Thursday as investors weighed risks to supply from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels.
Brent crude futures fell $1.39, or 1.31%, to $104.67 a barrel by 0116 GMT, while US West Texas Intermediate crude futures were down $1.02, or 1.07%, to $94.07, reversing gains from the previous session.
