Economy / Markets
Brent slides below $106 as Saudi Arabia reroutes crude via Oman
Brent crude settled 2.69 percent lower at $105.83 a barrel on Wednesday and US West Texas Intermediate fell 3.2 percent to $102.43 after Saudi Arabia offered additional cargoes through Oman following drone strikes on the kingdom's East-West pipeline. Saudi state-backed operators shifted exports to ship-to-ship transfers and Gulf loadings, partly restoring flows to Yanbu that had been suspended, though vessel passage through the Strait of Hormuz remained in single digits with only four ships transiting, far below the ten-day average of 18.