Oil prices ease on possible Iran oil exports, rising interest rates

NEW YORK: Oil prices eased on Thursday in volatile trade as investors braced for the possible return of sanctioned Iranian oil exports to the market and on worries that rising US interest rates would weaken fuel demand.

The prospect that the OPEC+ producer group could curb oil supplies limited the decline in oil prices.

Brent crude fell 4 cents to $101.18 a barrel by 11:41 p.m. EDT 1541 GMT, while US West Texas Intermediate crude fell 33 cents, or 0.4 percent, to $94.56 a barrel.