The price of Brent crude oil fell below $110 per barrel in international futures markets on late Thursday.
After rising to as high as $119.11 during the day, the benchmark dropped to $107.66 per barrel as of 1817 GMT while West Texas Intermediate (WTI) crude was trading at $95.03 per barrel.
Oil prices had risen earlier after attacks on several refineries at Iran's South Pars natural gas field in the Persian Gulf, located in southern Iran, followed by a strong retaliation by Iran.
Tehran warned that it would show "zero restraint" if its infrastructure was targeted again and launched attacks on energy facilities across the region, including in Qatar and Kuwait.
Energy prices, which has been elevated due to attacks on energy infrastructures, partially eased after comments by US President Donald Trump regarding further strikes.
Trump said Thursday that he does not intend to deploy additional troops to the Middle East amid the war with Iran. Also, he said he urged Israeli Prime Minister Benjamin Netanyahu not to strike Iran's oil and gas infrastructure.
US Treasury Secretary Scott Bessent said earlier today that the US could soon ease sanctions on Iranian oil stored on offshore tankers in order to help increase global supply and bring down prices.
Disruptions to traffic in the Strait of Hormuz - a key passage for global trade - following attacks by the US and Israel on Iran, and Iran's retaliatory actions contributed to volatility in oil prices due to concerns over supply.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr
