Brent Crude Falls as Saudi Pipeline Recovery Eases Supply Fears

Brent crude oil prices fell for a third consecutive session on Friday, settling at US$104.82 per barrel, as concerns over supply disruptions eased due to improved Middle East energy flows.

Saudi Arabia is making progress in restoring the capacity of its East-West pipeline, which was damaged in an attack. The kingdom aims to restore around half of the pipeline's 1,200-kilometer capacity within days and expects full operations to resume within about six weeks.

Oil prices were also affected by reports that China had privately urged Iran to help rein in Yemen's Houthis following an appeal from Riyadh. This development has raised hopes that diplomatic efforts could contain the conflict and restore energy flows.