Oil declines 2% on supply relief hopes

Oil prices fell by 2% today, Friday, marking the third consecutive day of declines. Concerns over potential disruptions to Saudi supply eased due to improvements in the situation with the East-West pipeline, leading to a decrease in Brent crude prices to $102.53 per barrel and West Texas Intermediate to $100.04. Despite reports of Saudi efforts to restart the pipeline and improved flows, oil prices remain above $100 per barrel, as markets await signals of supply stabilization and a return to normal production levels.

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