Brent Crude Oil Prices Slide on Easing Saudi Supply Concerns
Brent crude oil prices fell on Friday, September 18, due to easing concerns over potential disruptions to Saudi Arabian oil supplies. According to Reuters, Brent futures declined $1.65, or 1.6%, to $103.17 a barrel by 1008 GMT.
The decline extended oil's losses for a third consecutive session, with traders assessing the latest developments around Saudi oil flows and global fuel inventories. The global benchmark is on track for a 1.4% weekly decline, its first in three weeks.
Earlier in the week, Brent prices had climbed near four-month highs amid concerns about potential disruptions to Saudi oil exports following attacks affecting infrastructure. However, reports pointed to efforts to restore disrupted supply capacity and maintain crude shipments through alternative routes.