Oil Prices Tumble as Mideast Flows Remain Surprisingly Strong
Oil prices fell Monday as traders kept watch for a recovery in shipments from Saudi Arabia despite attacks by Iran-backed Houthis on Saturday.
The disruption to Saudi Arabia's East-West pipeline was expected to cause supply issues, but JPMorgan analysts noted that Middle East oil flows have remained surprisingly strong, averaging 17.1 million barrels per day over the past 10 days.
This is 6.1 million barrels per day below the 2025 average, according to JPMorgan's analysis.
U.S. President Donald Trump said he was in a 'deciding mode' regarding the US-Iran war, hinting at potential future actions.
Daniel Takieddine, co-founder and CEO of Sky Links Capital Group, expects prices to remain closely tied to the pace of export normalization and diplomatic progress.