Commodities
Brent Crude Falls 0.95% as Saudi Supplies Ease Middle East Disruption Concerns
Brent crude prices fell by 0.95% on Thursday, September 17, as concerns about Middle East disruption eased slightly due to additional Saudi supplies.
The Brent futures price dropped $1.01 to $104.82 a barrel at the close of trading on September 17, while US West Texas Intermediate futures lost 52 cents, or 0.5%, to $101.91 a barrel.
Saudi Arabia was offering extra crude cargoes to Asian refiners through ship-to-ship transfers off Oman's Sohar port, which helped push both benchmarks more than $3 lower during the session.
The additional Saudi cargoes offered via Sohar would offset some disruption caused by attacks on the East-West pipeline, which carries crude towards the Red Sea.