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Commodities

Saudi Supply Flows Breathe Life into Oil Markets Amid Ongoing Tensions

Guavy AI Editorial Team
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Oil
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Oil prices plummeted over 2% on Monday as markets weighed the latest developments in the Middle East against signs of recovering crude supplies from Saudi Arabia.

The decline came despite a fresh attack by Yemen's Iran-aligned Houthis on Saudi Arabia, with investors also watching for signs of a possible diplomatic breakthrough in the US-Iran conflict.

Brent crude futures were down 2.3% at $101.5 a barrel, while US West Texas Intermediate crude fell 2.4% to $97.9.

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