Oil Prices Settle Lower as Brent and WTI Crude Futures Decline

Doha: Oil prices declined at settlement on Tuesday: Brent crude for June delivery fell $3.42 to close at $103.97 a barrel. May Brent futures dropped $5.57, or 4.94 percent, to settle at $118.35 a barrel. U.S. West Texas Intermediate (WTI) crude futures slipped $1.50, or 1.46 percent, to $101.38 a barrel. According to Qatar News Agency, despite the daily losses, Brent futures posted record monthly gains of 64 percent in March. U.S. benchmark WTI crude rose about 52 percent over the month, marking its biggest jump since May 2020.