Global crude oil prices fell in early trading on Thursday as Saudi Arabia’s offer of additional shipments through Oman reduced some concerns about possible supply disruptions in the Middle East. Brent crude was trading around $105.64 per barrel, while US West Texas Intermediate (WTI) stood near $102.10.

Saudi Arabia is offering more crude to Asian refiners through ship-to-ship transfers near Oman’s Sohar port. The alternative route is helping offset some of the disruption caused by damage to Saudi Arabia’s East-West pipeline, which carries crude toward the Red Sea.

Oil market remains under pressure

The latest decline follows a sharp rise earlier this week, when oil prices reached around four-month highs amid concerns over disrupted Saudi exports. Reports of suspended loadings at Yanbu and cancelled shipments to some European buyers had raised fears about tighter global supplies.

Market analysts said expectations of easing tensions in the Middle East, along with the possibility of upcoming US-China talks, have also limited gains in crude prices.

US crude stocks show smaller decline

US crude inventories fell by 640,000 barrels in the week ended September 11, according to the US Energy Information Administration (EIA). The decline was smaller than the 1.62 million-barrel reduction expected by analysts, adding further pressure on oil prices.

Despite the recent decline, continued disruptions in major oil-producing areas are keeping uncertainty high in global energy markets.