Oil prices have begun to decline in global commodity markets following a recent rally, APA-Economics reports.
Brent crude futures for November fell by $0.65, or 0.60%, to $108.10 per barrel.
Meanwhile, October futures for West Texas Intermediate (WTI) crude dropped by $0.94, or 0.89%, to $104.89 per barrel.
The decline in oil prices is attributed to profit-taking by investors and a short-term market correction following sharp gains in previous days.
At the same time, tensions in the Middle East and risks surrounding energy supplies continue to keep oil prices at elevated levels.