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SANAA, Yemen (AP) — Saudi Arabia bombed the northern stronghold of Yemen's Shiite rebels and key military installations on Friday as a coalition led by the Gulf kingdom carried out airstrikes for a second day. The strikes hit at least six provinces, including an eastern area rich in oil and gas.
Oil prices fell more than $1 a barrel on Friday as worries receded over the threat of disruptions to Middle East supplies due to Saudi Arabia-led air strikes in Yemen. Goldman Sachs said the bombing of Yemen would have little effect on oil supplies as the country was only a small crude exporter and tankers could avoid passing its waters to reach their ports of destination. Brent crude was down $1.30 at $57.89 a barrel by 0930 EDT after hitting a low of $57.76. Oil jumped around 5 percent on Thursday, its biggest daily gain in a month, after air strikes in Yemen by Saudi Arabia and its Gulf Arab allies sparked fears escalation of the Middle East battle could disrupt world crude supplies.