Singapore: Oil prices dropped by around one percent in Asian trading on Friday, extending their slide for a third consecutive session, but remained above $100 a barrel. Optimism over finding alternative routes to get Middle East oil to market outweighed fears of regional unrest.

According to Qatar News Agency, Brent crude futures decreased by $1.01, or one percent, reaching $103.77 a barrel. Similarly, U.S. West Texas Intermediate (WTI) crude futures declined by $1.03, or one percent, settling at $100.88 a barrel. Both benchmark crude oils had experienced a similar one percent decrease at the previous day's settlement.

Oil prices had surged earlier in the week, reaching their highest levels in nearly four months, driven by concerns over geopolitical tensions in the Middle East. However, recent developments and initiatives to explore alternative routes for oil transport have provided some relief to the market, contributing to the current price adjustments.