Skip to content
Sign In Subscribe
Energy — Saudi Arabia — World Affairs — Iran

Saudi Oil Threats Keep Markets On Edge As Prices Slide

US West Texas Intermediate crude dropped 2.19% to $101 a barrel, while Brent declined 1.89% to $114.51

,   and  TIPP Staff
2 min read
Photo by Red Shuheart / Unsplash

Oil prices fell more than 2% on Monday as traders weighed the threat of further attacks on Saudi energy infrastructure against concerns that sustained high prices could weaken global demand.

💡
US West Texas Intermediate crude dropped 2.19% to $101 a barrel, while Brent declined 1.89% to $114.51. The pullback followed Friday’s rally after Yemen’s Houthi militants claimed attacks targeting Saudi airports and oil facilities. Saudi authorities said they intercepted additional missiles and drones.

Michael Alfaro, chief investment officer at Gallo Partners, told CNBC that geopolitical uncertainty had added roughly $20 per barrel to oil prices. He warned that Brent climbing above $120 to $140 could accelerate demand destruction.

Damage to refining facilities could also prolong supply pressures into 2027. Saudi Arabia plans to store crude in Singapore from the second half of 2027, while the US Energy Department authorized releasing up to 400,000 barrels from its Strategic Petroleum Reserve to address a Louisiana refinery disruption.

Related Tweet:

Also Read:

Trump Weighs Major Iran Offensive As US Forces Prepare For Action
Officials said Trump has not made a final decision, although some believe action could follow November’s midterm elections.
tippinsightsTIPP Staff

Comments

Related

Latest