Saudi Oil Exports Recover Amid Yemen Houthi Attacks

Oil prices declined on Monday as investors assessed the recovery of Saudi Arabian exports despite ongoing attacks by Yemen's Iran-backed Houthis. The attacks have escalated tensions in the Middle East, but shipments from Saudi Arabia have resumed after a disruption to the East-West pipeline.

The total oil flows averaged 17.1 million barrels per day (bpd) in the past 10 days, just 6.1 million bpd below the 2025 average, according to JPMorgan analysts. Saudi Arabia's oil exports have recovered to over 4 million bpd this month after slumping to 2.4 million bpd in August.

US West Texas Intermediate crude dropped by 89 cents, or 0.89%, to $99.41 a barrel, while Brent crude futures fell by 81 cents, or 0.78%, to $103.06 a barrel.