Doha: Oil prices fell Wednesday after rising for three consecutive sessions, as investors awaited developments regarding the fragile ceasefire in the war with Iran. Brent crude futures fell 82 cents, or 0.76 percent, to $106.95 a barrel, while US West Texas Intermediate crude dropped 66 cents, or 0.65 percent, to $101.52.

According to Qatar News Agency, both benchmarks had approached or exceeded $100 a barrel since the United States and Israel launched attacks on Iran in late February, and Tehran effectively closed the Strait of Hormuz. The recent fluctuations in oil prices have been tied closely to geopolitical tensions and strategic maneuvers in the region, with market participants closely monitoring any changes that could impact the global supply chain.