Saudi Arabia Offers Ship-to-Ship Crude Transfers Amid East-West Pipeline Disruption

Oil prices continued their decline on Thursday as concerns over disruptions to supply eased following attacks on Saudi Arabia's East-West pipeline. Brent futures, the international benchmark, fell slightly to $105.81 per barrel, while U.S. crude oil dropped 0.22% to $102.14 a barrel.

Saudi Arabia is making additional crude cargoes available to Asian refiners through ship-to-ship transfers near Oman's Sohar port, according to Reuters. This move helps cushion the impact on global supplies from attacks on the kingdom's East-West pipeline to the Red Sea.

U.S. Energy Secretary Chris Wright told CNBC that the East-West pipeline outage was a 'brief and temporary interruption' that 'will be measured in days,' easing supply concerns.