Global oil prices have fallen following an unexpected increase in U.S. crude oil inventories, despite concerns about disruptions to Saudi Arabia’s oil supply.
Al Jazeera reported on Wednesday, September 16, that global oil prices declined as market participants assessed vulnerabilities in oil supplies.
According to the report, Brent crude futures fell by 93 cents, or 0.86 percent, to $107.82 per barrel. U.S. West Texas Intermediate (WTI) crude futures also fell by 97 cents, or 0.92 percent, to $104.86 per barrel.
Concerns over disruptions to global oil supplies and rising prices had increased after the Houthis targeted Saudi Arabia’s East-West pipeline and oil export facilities in Yanbu.
However, global oil prices remain significantly higher than the levels at which they traded in international markets before the U.S.-Iran war.
