Oil prices fall after Saudi Arabia offers more crude via Oman

Oil prices have fallen after reports that Saudi Arabia was offering additional crude cargoes via Oman as drone attacks damaged the kingdom's oil pipeline to the Red Sea, appearing to ease concerns about the scale of Middle East supply disruptions.

Vessel passage through the Strait of Hormuz remained constrained as attacks in the region intensified.

Brent crude futures fell $2.92, or 2.7 percent, to settle at $105.83 a barrel, while US West Texas Intermediate dropped $3.40, or 3.2 percent, to $102.43.