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Oil Prices Slide as Supply Fears Eased by Saudi Arabia's Shipments

Guavy AI Editorial Team
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Oil prices retreated on Thursday as concerns about supply disruptions eased following reports that Saudi Arabia would maintain shipments via additional loadings off Oman's Sohar port.

The Brent crude futures contract fell $1.09, or 1.03%, to $104.74 a barrel at 0801 GMT, while the US West Texas Intermediate futures contract was down 83 cents, or 0.81%, at $101.6 a barrel.

Saudi Arabia is offering more crude cargoes to Asian refiners through ship-to-ship transfers off Oman's Sohar port, helping offset some of the disruption caused by attacks on the East-West pipeline to the Red Sea.

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