Crude oil prices fell Friday with concerns over global economic growth and weakening oil demand.
International benchmark Brent crude was trading at $63.59 per barrel at 0631 GMT on Friday with a 0.42% drop after it ended the previous session at $63.86 a barrel.
American benchmark West Texas Intermediate was at $56.67 a barrel for a 0.36% decrease at the same time after closing Thursday at $56.88 per barrel.
Oil prices fell despite elevated tensions in the Middle East that could disrupt supply routes and send prices higher.
Royal Marines seized Iran's oil tanker believed to be en route to Syria on Thursday.
The supertanker was suspected of transporting crude oil to the Baniyas oil refinery in Syria, which under EU law would represent a breach of sanctions placed under the regime of Bashar al-Assad.
Upon the news, U.S. National Security Advisor John Bolton hailed the British move as “excellent news.”
“America & our allies will continue to prevent regimes in Tehran & Damascus from profiting off this illicit trade,” Bolton said on Twitter.
By Zeynep Beyza Kilic