Commodities
Oil Benchmark Falls as Saudi Arabia's Pipeline Restart Efforts Stall
The global oil benchmark fell by 0.9% to settle near $104 a barrel on Saturday, marking its third consecutive decline.
Concerns about Middle East supply have shifted due to Saudi Arabia pausing some sales to Europe, but analysts say buffers still hold for now.
Saudi Aramco is working to partially restart the East-West pipeline within days and resume full capacity in six weeks following drone attacks stemming from the Iran war.
Despite this optimism, at least two oil refining customers in Europe have been told they will receive no crude oil next month.
The shutdown of the pipeline has contributed to a volatile week for crude, with Brent gaining around 70% this year due to conflicts in the Middle East and Russia.