24 Hrs
Source:
المصري اليوم
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Oil drops as Saudi ships via Oman
Oil prices dropped significantly after reports indicated that Saudi Arabia was supplying additional shipments of crude through Oman, helping to ease concerns about supply disruptions in the Middle East following attacks on a major pipeline and oil fields in the Red Sea. Brent contracts fell to $105.12 per barrel, down by 3.3%, while West Texas contracts declined to $101.72, a decrease of 3.9%. Additionally, U.S. oil inventories decreased less than expected, adding pressure on prices, amid a decline in shipping activity through the Strait of Hormuz and a significant drop in the number of ships transiting the strait.
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