Oil drops again amid easing supply concerns

Oil prices declined for the third consecutive session amid easing concerns over supply disruptions despite regional tensions, especially following Saudi efforts to restart the East-West pipeline and the resumption of oil flows to normal levels. Brent crude futures fell by 1.12% to $103.65 per barrel, while West Texas Intermediate declined by 0.85% to $101.04, as the market continues to await evidence of supply stabilization. Despite tensions between Saudi Arabia and the Houthis, markets anticipate a swift restoration of oil supply routes, leading to a decrease in oil prices from levels close to four-month highs.

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