Oil Prices Fall for Third Straight Session Amid Reassessments of Saudi Pipeline Disruptions

Oil prices fell for a third consecutive session on Friday, September 18, as traders reassessed the impact of Saudi Arabia's pipeline disruptions and alternative supply routes.

Brent crude futures dropped about 1% to around $103.77 a barrel, while U.S. West Texas Intermediate (WTI) oil prices fell by roughly the same amount to around $100.88.

The decline in prices comes despite the ongoing conflict between Saudi Arabia and Yemen's Iran-backed Houthis, which has raised concerns about supply disruptions and increased tensions in the region.

Saudi Arabia is working to restore its East-West pipeline, which was damaged by attacks earlier this month. Reports indicate that the kingdom aims to bring back part of the pipeline's capacity within days, reducing some of the immediate pressure on crude prices.