(Reuters) <\/p>\n\n\n\n
TOKYO, Sept 17 (Reuters) – Oil prices fell in early \u200btrade on Thursday, extending the previous day’s losses, as reports of Saudi Arabia offering \u200cextra crude cargoes through Oman reduced fears of supply disruptions in the Middle East.<\/p>\n\n\n\n
Brent crude futures dropped $1.24, or 1.2%, to $104.59 a barrel by 0049 GMT, while U.S. West Texas Intermediate futures were down $1.14, or 1.1%, at $101.29. Both contracts \u200bfell about $3 on Wednesday.<\/p>\n\n\n\n
“Concerns over supply tightness eased slightly following news that Saudi Arabia would \u200bship cargo via Oman,” said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, \u2060a unit of Nissan Securities.<\/p>\n\n\n\n
“Expectations of progress toward easing tensions in the Middle East ahead of \u200bU.S.-China summit next week are also capping price gains,” he added.<\/p>\n\n\n\n
Saudi Arabia is offering more loadings<\/a> of crude \u200boil to Asian refiners via ship-to-ship transfers off Oman’s Sohar port, people familiar with the matter said, blunting some of the hit to global supply from attacks on the Saudi Arabia’s East-West pipeline to the Red Sea.<\/p>\n\n\n\n Oil prices rose \u200bto about four-month highs earlier this week after shipping industry sources said crude loadings at Saudi \u200bArabia’s Red Sea export hub of Yanbu had been suspended and Riyadh had cancelled<\/a> some cargo deliveries to European customers. The \u200csuspension followed attacks<\/a> \u2060on the East-West pipeline, which feeds the Saudi port of Yanbu.<\/p>\n\n\n\n