Get the latest news and updates from Dawn
Crude prices sank two per cent on Friday and were headed for steep weekly losses amid easing supply concerns as more stranded oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday.
Brent crude futures fell $1.50, or 1.99pc, to $73.76 a barrel as of 0649 GMT, while US West Texas Intermediate fell $1.49, or 2.07pc, to $70.43 a barrel.
Refining giant Saudi Aramco resumed oil loading on Friday at its Ras Tanura terminal in the Gulf after a near four-month halt, shipping data from LSEG showed.
Two Very Large Crude Carriers (VLCC) were seen loading crude at the terminal, while another waited nearby, the data showed. Each VLCC is capable of loading two million barrels of oil.
