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Oil prices fall 1% on hopes of limited supply disruptions
Oil prices fell about 1%, extending losses for a third session, but stayed above $100 on Friday, as hopes of alternate ways for barrels from the Middle East to reach markets outweighed concerns about strikes between Saudi Arabia and Yemen’s Houthis. Brent crude futures fell $1.01, or 1%, to $103.77 a barrel by 0020 GMT, while US West Texas Intermediate futures fell $1.03, or 1%, to $100.88 a barrel. Both benchmarks had closed down about 1% on Thursday. Markets largely shrugged off concerns about new threats to supplies even as Saudi Arabia and Yemen’s Houthis exchanged fresh strikes across...
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