Oil Prices Fall for Third Consecutive Session as Supply Fears Ease
Oil prices dropped on Friday for the third consecutive session as concerns over potential supply disruptions eased, despite persistent tensions in the region.
Brent crude futures fell 1.12% to $103.65 per barrel, while US West Texas Intermediate (WTI) crude futures declined by 0.85% to $101.04 per barrel.
Brent Heads for a Weekly Loss
Brent crude is on track to record its first weekly decline in three weeks, dipping 0.5% over the week, while WTI is heading for a 1.2% weekly gain.
Markets largely shrugged off concerns regarding new supply threats, even as Saudi Arabia and the Houthis exchanged fresh cross-border strikes on Thursday, widening the war front in the Middle East.
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