Doha: Oil prices fell Friday at the settlement amid investor caution over weak demand in the US, the world's largest crude market, and increased supply by OPEC and other producers this fall. Brent crude futures for October delivery, which expire today, fell 50 cents, or 0.73 percent, to settle at $68.12, while the more actively traded November contract fell 53 cents, or 0.78 percent, to $67.45. US West Texas Intermediate (WTI) crude futures also fell 59 cents, or 0.91 percent, to $64.01.

According to Qatar News Agency, the decline in prices is attributed to concerns about the slowing demand in the US, which continues to be a significant influence on global oil markets. Additionally, the anticipation of increased oil supply by the Organization of the Petroleum Exporting Countries (OPEC) and other producers is contributing to the downward pressure on prices. The market's reaction reflects apprehensions about the balance between supply and demand as economic uncertainties persist.

The current pricing trends underscore the sensitive nature of oil markets to both production levels and consumption patterns. Market analysts suggest that the situation warrants close monitoring, especially considering the potential for fluctuations influenced by geopolitical developments and policy decisions related to energy production and consumption globally.