Oil Prices Plummet as Saudi Shipments Recover Amid Ongoing Tensions

Oil prices have taken a hit as Saudi Arabia's oil exports normalize after weekend attacks on its energy infrastructure. Brent crude for November delivery fell 1.66% to $102.15 a barrel, while U.S. West Texas Intermediate for October dropped 1.83% to $98.46 per barrel.

JPMorgan analysts note that Middle East oil flows remain surprisingly strong at 17.1 million barrels per day, despite disruptions to Saudi Arabia's East-West pipeline. This is still 6.1 million barrels per day below the 2025 average.

U.S.-Iran tensions continue to intensify, keeping supply risks in focus. President Donald Trump says he is 'in a deciding mode' and that 'very big things are going to happen' regarding the U.S.-Iran conflict.