WTI remains below $97.50 as Saudi routes recover, US stocks shrink less than expected
West Texas Intermediate (WTI) oil price extends its losses for the second successive day, trading around $96.60 per barrel during the Asian hours on Thursday. Crude oil prices fall following reports that Saudi Arabia plans to restore roughly half the capacity of its East-West pipeline within days and achieve full operation within six weeks. The vital pipeline, which provides an alternative export route around the vulnerable Strait of Hormuz, suffered damage during drone attacks last week. Meanwhile, Saudi Arabia has stepped up efforts to transport larger volumes of crude through Hormuz with assistance from the US military. Further easing supply concerns, US Energy Secretary Chris Wright confirmed that 18 million barrels of crude and petroleum products successfully passed through the Strait of Hormuz earlier this week. Adding to the downward pressure on prices, the US Energy Information Administration (EIA) reported a smaller-than-expected draw from domestic crude inventories for the previous week. Discover more FINANCE Compare Exchange Rates Finance EIA data showed that crude oil stocks in the top-producing nation fell by approximately 640,000 barrels. This drop was significantly lower than the 1.62 million-barrel draw energy analysts had anticipated in a Reuters poll, signaling softer demand or higher supply buffers than market expectations had priced in. Middle East posture









