Saudi Arabia resumes oil loadings, restarts East-West Pipeline

  • Saudi Arabia resumed tanker loadings at Yanbu and restarted its East-West Pipeline.
  • Brent crude fell to $96.96, while U.S. West Texas Intermediate dropped to $89.24.
  • Traders continue monitoring Middle East developments and the Iran conflict.

Oil prices fell after Saudi Arabia resumed loading tankers at Yanbu, its Red Sea port, and restarted the East-West Pipeline, easing fears of supply disruptions. Brent crude dropped to $96.96 per barrel, while U.S. West Texas Intermediate fell to $89.24. Traders remain focused on Middle East developments and concerns that a lasting resolution to the Iran conflict could be delayed.

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