New york: Oil prices in global markets have dropped below $104 per barrel, signaling a shift in energy market dynamics. Brent crude futures for November delivery decreased by $0.95, or 0.91%, settling at $103.87 per barrel. Likewise, WTI crude futures for October delivery saw a reduction of $0.79, or 0.78%, closing at $101.12 per barrel. According to Azeri-Press News Agency, the decline in oil prices is largely attributed to signs of weakening fuel demand in the United States. This reduction comes as a market correction following a previous surge in prices, reflecting the volatile nature of global oil markets. Despite the declining trend, ongoing geopolitical tensions in the Middle East and concerns over supply routes through the Strait of Hormuz are preventing a more substantial drop in prices. These factors continue to pose risks to global oil supplies, maintaining a level of uncertainty in the market.