Saudi Arabia's Oil Exports Slowing Despite Houthi Attacks
Oil prices have declined as markets monitor developments in Saudi Arabia following missile and drone attacks by Iran-backed Houthi forces. The ongoing US-Iran conflict has raised concerns about global crude supplies, with Brent crude for November delivery falling 1.66% to $102.15 a barrel.
JPMorgan analysts report that oil flows from the region have remained relatively strong despite disruption to Saudi Arabia's East-West pipeline, averaging around 17.1 million barrels per day over the previous 10 days.
However, this figure is still about 6.1 million barrels per day below the 2025 average, highlighting the ongoing impact of disruptions in the region.
Daniel Takieddine, co-founder and CEO of Sky Links Capital Group, notes that prices are likely to remain closely linked to the pace of export recovery and diplomatic developments.