Ammon News - Oil prices fell on Wednesday after crude exports resumed from Iraq's ‌Kirkuk fields to Turkey's Ceyhan port via pipeline, providing modest relief to global markets concerned about supplies from the Middle East.

But with no signs of a de-escalation of the Iran conflict, which has left oil exports from the Middle East largely halted, Brent futures prices have ​settled above $100 per barrel for the prior four consecutive sessions.

After rising more than 3% on Tuesday, Brent ​futures retreated $1.51, or 1.46%, to $101.91 a barrel by 0731 GMT on Wednesday. U.S. West Texas ⁠Intermediate crude dropped $2.75, or 2.86%, to $93.46.

U.S. crude stocks rose by ⁠6.56 ​million barrels in the week ended March 13, market sources said, citing ​API figures on Tuesday.

A Reuters poll showed that U.S. crude oil stockpiles were expected to have risen by about 380,000 barrels in the week ​to March 13.

Reuters