Oil Prices Volatile Amid Saudi Shipments Boost

The price of crude oil has been experiencing significant volatility in recent days, with prices oscillating sharply.

This week, the price of oil reached as high as $105 per barrel but is now trading at $99 per barrel after a 3% decline.

A report earlier on Thursday suggested that Saudi Arabia has recovered well from pipeline attacks and has increased crude shipments to their highest levels since the start of the Iran war, easing concerns about supply shortages.

However, analysts are cautious not to read too much into this single piece of news, as oil prices have been prone to sudden spikes in recent days.