Brent crude falls to $105.3 per barrel

Oil prices fell moderately on Friday, but may end the week with gains, trading data shows, Report informs.

December Brent crude futures dropped by $0.62 (0.59%) to $105.30 per barrel on the London ICE Futures exchange.

November WTI crude futures fell by $0.68 (0.69%) to $97.29 per barrel in electronic trading on the New York Mercantile Exchange (NYMEX).

On the previous day, WTI prices received substantial support from data showing that US crude inventories plummeted by 8.557 million barrels last week due to production shutdowns in the Gulf of Mexico caused by a hurricane. The drop was the largest since February.

Commercial gasoline inventories rose by 3.518 million barrels, while distillate stocks decreased by 2,527 barrels. Analysts had on average projected a decrease of 500,000 barrels in gasoline reserves and 1.6 million barrels in distillates, according to Trading Economics.