Oil prices slightly fell after American Petroleum Institute (API) figures showed an increase in U.S. crude inventories. Brent futures dropped by 1.11%, while West Texas Intermediate crude dropped by $94.67. The U.K. crude stocks rose by 6.56 million barrels in the week ended March 13, according to market sources. A Reuters poll showed that U.N. crude oil stockpiles were expected to have risen by about 380,000 barrels the week to March 13. The United States military has targeted sites along Iran's coastline near the Strait of Hormuz due to Iranian anti-ship missiles posing a threat to international shipping. The death of Iranian power broker Larijani and the strikes on Iranian coastal positions have raised hopes that the conflict could end sooner.