Oil Prices Fall for Third Straight Day on Saudi Supply Hopes
U.S. crude briefly slipped below $100 a barrel as additional Saudi Arabian supplies eased concerns over disruptions, CNBC reported.
Oil prices declined for a third consecutive day on Friday, according to a report by CNBC, as expectations of additional crude supplies from Saudi Arabia helped ease fears of a broader disruption to global oil markets.
U.S. crude briefly dipped below the $100-a-barrel mark during the session, the report said, extending a downward trend in prices seen over the previous two days.
The report attributed the decline to growing confidence among market participants that Saudi Arabia would be able to offset potential supply disruptions, though it did not specify the source or scale of the additional supplies.
CNBC's report referenced concerns tied to regional tensions, including activity attributed to Houthi forces, though further details on the nature or extent of those disruption fears were not provided in the available report.
No additional figures on Brent crude prices or specific trading levels were included in the source material.
Sources
- Oil prices fall for third day on Saudi Arabia supply hopes; U.S. crude briefly dips below $100 — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Related articles
Saudi Aramco Cancels October Crude Allocations to European Refiners
The cancellation follows a shutdown of the East-West pipeline after a drone attack, according to Bloomberg.
Jordan, Bahrain Condemn Houthi Attacks on Saudi Arabia
The two nations reaffirm solidarity with Riyadh following reported drone interceptions and security alerts.
UN, GCC leaders condemn Houthi attacks on Saudi Arabia
UN Secretary-General Antonio Guterres and Gulf Cooperation Council chief Jasem Mohamed Albudaiwi said the attacks on civilian infrastructure threaten regional stability.
Iran Sets Terms for Peace as Saudi Forces Block Attack on Riyadh
Tehran's security chief has outlined conditions for ending conflict, including cessation of hostilities and removal of U.S. naval restrictions.
Yemen Says It Is Not an Iranian Bargaining Chip, Calls Ties With Saudi Arabia 'Firm'
Yemen's foreign minister says restoring state institutions is central to the country's security and to regional stability, including the safety of maritime routes.
Saudi Arabia reports thwarting Houthi missile attack on Riyadh
A Saudi-led coalition says it intercepted a missile fired by Houthi forces targeting the capital.
Comments
Loading comments…