Brent Crude Falls Below $105 as Alternative Shipping Routes Ease Supply Fears

Brent crude declined to around $104 a barrel on Friday, extending its fall for a third consecutive session. The decline followed reports that alternative shipping arrangements could reduce the impact of disruptions linked to the Middle East conflict.

Oil prices remain sensitive to developments involving Iran, Saudi Arabia, Yemen and the Strait of Hormuz. For India, lower crude prices could reduce pressure on the import bill and the rupee, although the situation remains dependent on the duration and spread of the conflict.