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[Oil Prices Fall for Third Consecutive Day as Saudi Supply Concerns Ease] 1. International oil prices fell about 2% on Friday, marking the third consecutive trading day of decline and nearing a one-week low. This week is on track for the first weekly drop in three weeks. Market concerns about Saudi supply disruptions eased, outweighing worries about the escalation of the Middle East conflict. As of 3:30 PM, Brent crude futures fell as much as 2% to $101.97 per barrel, while US crude futures for September delivery fell as much as 2.35% to $99.52 per barrel. 2. Saudi Arabia and Yemen's Houthi rebels clashed again on Thursday, expanding the front lines of the Middle East war, but the market largely ignored concerns about new supply threats. Oil prices had previously climbed to a near four-month high this week. Sources said that Saudi Arabia had cancelled some crude oil supplies to Europe due to the suspension of crude oil loading operations at Yanbu, Saudi Arabia's Red Sea export hub, and damage to the east-west pipeline last week. 3. However, reports indicate that Saudi Arabia is seeking to restore approximately half of the capacity of its east-west oil pipeline within days and is increasing crude oil supplies to Asian refiners via ship-to-ship transshipment near the port of Sohar in Oman, causing oil prices to fall. Priyanka Sachdeva, Director of Market Insights at Phillip Nova, stated that Saudi Arabia's recent efforts to restore export capacity have alleviated current supply concerns to some extent. 4. Sources hold differing opinions on when the pipeline will resume operation and when crude oil supplies will return to normal. Analysts point out that oil prices remain above $100 per barrel as the market awaits clear signs of improved supply. 5. Iranian state media reported earlier on Friday that the Iranian Islamic Revolutionary Guard Corps Navy stated that a Togolese-flagged oil tanker was attacked on Thursday while attempting to "illegally transit" the Strait of Hormuz.