Cairo: Oil prices fell Thursday amid expectations of lower fuel demand in the US as the summer driving season approaches its end and Russian oil supplies to Hungary and Slovakia resume via the Druzhba pipeline. Brent crude futures fell 46 cents, or 0.7 percent, to $67.59 by 16:04 GMT. West Texas Intermediate (WTI) crude futures fell 57 cents, or 0.9 percent, to $63.58.

According to Qatar News Agency, the upcoming Labor Day long weekend in the US marks the end of the summer driving season, which typically sees a spike in fuel consumption. As this period concludes, US gasoline demand is expected to decline. At the same time, crude oil supplies are anticipated to rise due to the OPEC+ plan to increase production by 547,000 barrels per day in September.

Additionally, Hungarian oil company MOL and the Slovakian Minister of Economy announced Thursday that Russian crude oil supplies to Hungary and Slovakia via the Druzhba pipeline have resumed. This resumption of supply is expected to contribute to the overall increase in crude availability, influencing the current dip in oil prices.