Oil prices settle mixed, Brent at US$105.92 per barrel

Oil prices settled mixed on Thursday as investors weighed the prospect of the United States easing restrictions on the so-called “shadow fleet” of oil tankers against a persistent geopolitical risk premium stemming from developments in the Middle East.

Brent crude futures edged down 14 cents, or 0.13 per cent, to settle at US$105.92 per barrel, while US West Texas Intermediate (WTI) crude futures surged US$2.88, or 3.03 per cent, to US$97.97 per barrel, supported by a sharp decline in US crude oil inventories.