Crude prices dropped to a one-week low on Thursday after reports that Saudi Arabia was moving oil through Oman, easing fears of supply disruptions in the Middle East, Reuters reported.

U.S. Energy Secretary Chris Wright told CNBC on Tuesday that Saudi Arabia had taken “quick action” to increase oil exports through the Strait of Hormuz with help from the U.S. military and to offset the shutdown of its key pipeline.

Brent crude futures, the global benchmark, fell $1.01 to settle at $104.82 a barrel. U.S. West Texas Intermediate crude fell 52 cents to settle at $101.91 a barrel.