Oil falls for third straight session
Oil prices temporarily rose at the start of the week but have declined today for the third consecutive session, amid easing concerns about supply disruptions despite rising tensions in the Middle East, particularly in Yemen and the Gulf. Brent crude contracts fell by 2.23%, reaching $102.48 per barrel, while West Texas Intermediate declined by 1.94% to $99.93, amid reports of Saudi efforts to restore half of the pipeline's capacity and boost shipments to Asian refineries. Markets ignored the threats of increased tension, despite ongoing clashes between Saudi Arabia and the Houthis, as investors awaited improved oil supplies and a reduction in geopolitical risks.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)