Oil Prices Retreat as Investors Weigh Supply Outlook, Middle East Tensions

Oil prices fell more than 1% on Thursday as investors weighed risks to supply from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels. Brent crude futures fell $1.64, or 1.6%, to $104.42 a barrel by 0337 GMT, while US West Texas Intermediate crude futures were down 98 cents, or 1%, to $94.11, reversing gains from the p