WTI Retreats as Saudi Oil Workaround Eases Supply Fears

November WTI crude oil futures were trading at $96. 35 at 0:51 GMT early Friday, up $0. 49, or 0. 51%, for the week. The contract traded as high as $101. 69 and as low as $94. 64.

The range reflects a market caught between broken Saudi infrastructure and an export workaround that only moves part of the lost volume. Saudi Arabia’s East-West pipeline outage drove WTI through $100. The kingdom’s Sohar transfers to Asian refiners pulled the contract back.