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Oil prices fall amid supply concerns easing
Oil prices declined today, Thursday, after reports indicated that Saudi Arabia shipped additional quantities of oil through Oman, easing concerns about supply shortages caused by attacks on the East-West pipeline in Saudi Arabia. Brent crude fell by $1.88 (1.8%), reaching $103.95 per barrel, while US West Texas Intermediate dropped by $1.77 (1.7%) to $100.66. The ongoing fear of expanding conflict in the Middle East continues to weigh on the market. However, these extra oil flows partly compensate for the halted exports, though the market remains affected by attacks on pipelines and major export ports.
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