Saudi Efforts Ease Oil Supply Concerns Amid Continued Disruptions

Oil prices dipped on Friday as Saudi Arabia's efforts to restore disrupted crude flows and offer alternative export routes eased concerns over global oil supplies.

The international benchmark Brent crude futures for November delivery traded at $103.77 per barrel, down 1% from last Friday's close of $104.61.

The price had climbed to around four-month highs earlier in the week after attacks on Saudi Arabia's East-West oil pipeline disrupted crude loadings at the Red Sea port of Yanbu and raised concerns over the impact on global supplies.

Saudi Arabia has been working to restore flows through the East-West pipeline, which normally transports crude from oil fields in eastern Saudi Arabia to Yanbu on the Red Sea coast.