International Oil Prices Drop 1% Amid Saudi Supply Expansion Expectations

International oil prices dropped approximately 1% as of 9:20 a.m. on the 18th. Brent crude traded at $103.77 per barrel (approximately KRW 143,306), while West Texas Intermediate (WTI) crude was at $100.88 per barrel (approximately KRW 139,315). CNBC reported that Saudi Arabia could provide additional oil shipments to Asian refiners through maritime transshipment near Oman's Sohar, easing concerns about supply shortages. Despite Saudi Arabia and Yemen's Houthi rebels exchanging further attacks on the 17th, international oil prices focused on expectations of increased Saudi supply.