Oil prices ease after Saudi attack concerns
- Crude oil prices eased after rising above $106 per barrel as traders assessed Saudi Arabia supply risks following attacks and monitored market developments.
- Brent crude traded at $105.43 per barrel and West Texas Intermediate traded at $92.60 per barrel, both slightly below Monday’s close.
- Market participants continued evaluating supply conditions, including Saudi Arabia export resilience and the potential impact of a Russian diesel agreement.
Crude oil prices moved lower after recent gains as traders assessed the impact of Houthi attacks on Saudi Arabia and possible risks to global energy supplies.
Brent crude was trading at $105.43 per barrel, while West Texas Intermediate (WTI) was at $92.60 per barrel, with both benchmarks remaining above levels seen the previous week.
"Energy resilience is beyond barrels of spare capacity, of pipelines and gigawatts of generation," said Abdulaziz bin Salman, Saudi Arabia’s energy minister.
Saudi Arabia said its energy exports remained stable despite attacks affecting infrastructure, while market participants monitored reports of increased shipping activity and transfers involving regional crude supplies.
Traders are also assessing the potential impact of a Russian diesel agreement announced by U.S. and Russian officials, with analysts noting that the reported 4.8 million-ton volume may have limited influence on fuel prices.
Global oil markets continue to respond to changes in supply risks, geopolitical developments, production levels, and transportation conditions across major energy regions.
