Prices for benchmark crude oil grades rise over 1%

Oil prices fell on Wednesday after rising for three consecutive sessions, as traders awaited new decisions from parties to the Middle East conflict, Report informs via trading data.

July Brent crude oil futures on London's ICE Futures exchange closed at $106.32 per barrel, down $1.45 (1.35%) from the previous close.

WTI crude oil futures for June in electronic trading on the New York Mercantile Exchange (NYMEX) fell $1.45 (1.42%) to $100.73 per barrel.

The rise in oil prices earlier this week was fueled by fading hopes for a quick resolution to the Middle East crisis. Another attempt to agree on the terms of a peace deal between Washington and Tehran ended in vain.