West Texas Intermediate crude slid for a third day as a U.S. agreement with Russia to eliminate Syria’s chemical weapons reduced supply risk and on speculation that the Federal Reserve will start tapering stimulus measures.

Prices fell as much as 1 percent. Secretary of State John Kerry said the U.S. isn’t softening its opposition to Syrian President Bashar al-Assad by making a diplomatic deal. Fed policy makers meeting today and tomorrow will probably pare the monthly pace of bond purchases. Crude also fell as Libya opened two oil export ports.

WTI for October delivery dropped 73 cents, or 0.7 percent, to $105.86 a barrel at 10:50 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 6.4 percent above the 100-day average.

Brent for November settlement slid $1.53, or 1.4 percent, to $108.54 a barrel on the London-based ICE Futures Europe exchange. Volume was 8.7 percent above the 100-day average. The European benchmark’s premium to WTI shrank to $3.20 from $3.88 yesterday.