London:Oil prices experienced a decline on global markets with notable reductions in both Brent and Light crude prices.

According to Azerbaijan State News Agency, on the London-based Intercontinental Exchange (ICE), Brent crude prices fell by $2.04, bringing the price down to $114.68 per barrel. Meanwhile, on the New York Mercantile Exchange (NYMEX), Light crude saw a decrease of $2.15, resulting in a new price of $101.12 per barrel.