Oil Prices Dip as Saudi Arabia Eases Supply Disruption Fears

Oil prices continued their downward trend on the 18th, falling by approximately 1% in Asian trading for the third consecutive session.

The decline was attributed to growing confidence that Saudi Arabia is mitigating supply disruptions from a pipeline attack through alternative routes, such as ship-to-ship transfers off the coast of Oman's Port of Sohar.

Brent crude futures fell $1.01 per barrel to $103.77, while U.S. WTI futures dropped $1.03 to $100.88, both holding above the $100-per-barrel threshold.

Saudi officials have not disclosed a timeline for resuming operations on the East-West Pipeline, which was damaged in an attack last week and had pushed oil prices to their highest levels in four months.