Oil prices fell about 1pc, 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, Reuters reports.
Brent crude futures fell $1.01, or 1 per cent, to $103.77 a barrel by 0020 GMT, while US West Texas Intermediate futures fell $1.03, or 1pc, to $100.88 a barrel. Both benchmarks had closed down about 1pc on Thursday.
Markets largely shrugged off concerns about new threats to supplies even as Saudi Arabia and Yemen’s Iran-backed Houthis exchanged fresh strikes across their border on Thursday, expanding the Middle East war front.
