🔶 Reduction in oil prices due to a change in the Saudi oil export route through Oman

🔶 Reduction in oil prices due to a change in the Saudi oil export route through Oman

The price of crude oil, which fell yesterday, Wednesday, September 16, continued its downward trend early today after the publication of reports on the increase in Saudi oil exports through Oman during the repair period of the "East to West" pipeline.

In New York oil prices fell on Wednesday. The pre-sale price of Brent crude fell $2.92 or 2.7% to $105.83 a barrel.

The price of West Texas Intermediate (WTI) crude oil fell $3.40 or 3.2% to $102.43.

According to sources in the know, Saudi Arabia is proposing to increase the shipment of crude oil to refineries in Asia by transferring ships to ships at the Suhar seaport in Oman. An action that mitigates part of the blow to global supplies caused by attacks on this country's "East to West" pipeline to the Red Sea. Giovanni Stanovo, an analyst at the Ubias financial institution, said: "The news about Saudi Arabia's exports through the [Persian] Gulf shows that concerns about the possibility of greater disruptions are subsiding."