New york: Oil prices fell by more than 1 percent at settlement on Wednesday. US crude futures dropped by $1.16, or 1.14 percent, to settle at $101.02 a barrel. Brent crude futures also saw a decline, dropping by $2.14, or 1.99 percent, to settle at $105.63 a barrel. According to Qatar News Agency, the decline in oil prices reflects the ongoing volatility in the energy markets. The drop in both US and Brent crude futures indicates potential shifts in global oil demand and supply dynamics. Market analysts are closely monitoring these trends as they assess the implications for future oil pricing. The recent settlement figures highlight the fluctuating nature of the oil markets amid current economic conditions.