Saudi Exports via Oman Ease Oil Price Pressures

Oil prices fell on Wednesday after reports that Saudi Arabia was offering more crude cargoes via Oman eased some concerns about Middle East supply disruptions.

The Brent crude futures price dropped by $3.63, or 3.3%, to $105.12 a barrel, while U.S. West Texas Intermediate futures declined by $4.11, or 3.9%, to $101.72.

Saudi Arabia is offering more loadings of crude oil to Asian refiners via ship-to-ship transfers off Oman's Sohar port, according to people familiar with the matter.