Crude oil prices fall further as Saudi Arabia plans ship-to-ship transfers following pipeline attacks

Global oil prices continue to drop even as Saudi Arabia offers ship-to-ship crude transfers after a pipeline attack. Market fears of major Middle East supply disruptions have started to ease, pushing prices down. At the same time, Saudi Arabia faces growing pressure on multiple fronts as Houthi forces step up attacks in Yemen. Regional allies of Iran are carrying out these attacks in Yemen, which are adding to the overall impact of the conflict on global oil prices. Earlier reports from outlets like The New York Times warned that oil prices could reach their highest levels in months following the Saudi pipeline attacks.