Oil Prices Head for Weekly Loss as Saudi Export Fears Ease

Crude oil prices were poised for a weekly decline after three consecutive weeks of gains as traders’ concerns about Saudi Arabia’s export capacity eased following reports of ship-to-ship transfers in the Gulf of Oman. At the time of reporting, Brent traded at $103.65 per barrel and West Texas Intermediate at $101.04 per barrel, both slightly down but remaining above $100.

By AI Newsroom· Reviewed by Pranav, Founder & Editor-in-ChiefPublished about 2 hours agoUpdated about 2 hours ago0 views

Why It Matters

The developments matter because disruptions to Saudi flows had raised the risk of tighter global oil supply; indications that exports can be rerouted and some pipeline flows may be restored reduce that near-term supply risk and could lessen the geopolitical premium on prices.

Key Facts

Brent crude price: $103.65 per barrel
West Texas Intermediate price: $101.04 per barrel
Weekly price move: Set for a modest weekly loss after three weeks of gains
Saudi pipeline previous flows: Roughly 4 million to 5 million barrels per day over the past six months
Aramco alternative export method: Ship-to-ship transfers off the coast of Oman in the Gulf of Oman

Crude prices were easing after fears that Saudi Arabia’s ability to export oil had been severely curtailed. Traders reacted positively to reports that Saudi state oil company Aramco had begun using ship-to-ship transfers in the Gulf of Oman — a route outside the Strait of Hormuz — to move cargoes after attacks disrupted pipeline flows. At the time of writing, Brent crude was quoted at $103.65 per barrel and West Texas Intermediate at $101.04, with both markers marking a modest dip and set for a weekly decline following three straight weeks of gains. Despite the pullback, prices remained above $100 per barrel, maintaining upward pressure on fuel costs. Concerns surged after the Yemeni Houthi attacks on the East-West pipeline, which had been carrying an estimated 4 million to 5 million barrels per day for Saudi Arabia during the past six months. The pipeline outage prompted Riyadh to cancel several crude cargoes bound for Europe, intensifying near-term supply worries until alternative arrangements were reported. Market sentiment improved further when reports suggested Aramco expects to restore about half of the pipeline’s previous daily flows — roughly 2 to 2.5 million barrels per day — and as analysts noted that a sustained normalization of physical flows through the region could allow some of the recent geopolitical premium on oil prices to unwind. Phillip Nova analyst Priyanka Sachdeva, quoted by Reuters, highlighted the importance of the timeline for any restoration of traffic in the Strait of Hormuz. The story was reported by Irina Slav for Oilprice.com, which also linked this development to broader energy market concerns, including pressures on gas storage and regional fuel logistics.