Oil prices fell in early trade on Thursday, extending the previous session’s decline, after reports that Saudi Arabia was offering additional crude cargoes through Oman eased concerns over supply disruptions in the Middle East.
The latest move came after Saudi Arabia offered more crude loadings to Asian refiners through ship-to-ship transfers off Oman’s Sohar port, Reuters stated. The additional shipments are helping offset some of the supply impact from attacks on Saudi Arabia’s East-West pipeline, which runs to the Red Sea.
