Brent Crude Drops 1.66% to $102.15 Despite Houthi Attacks
Brent crude remains under pressure as Saudi supply recovery to over 4 million b/d offsets concerns over fresh Houthi attacks and US-Iran tensions. Traders are watching the shift in export routes via the Strait of Hormuz, which has helped stabilize Middle East oil flows despite the regional instability.
The Times of India reports that Saudi crude shipments have rebounded to over 4 million barrels per day in September, a sharp recovery from August lows, as Aramco redirects exports through the Strait of Hormuz to bypass Houthi disruptions. JPMorgan analysts note this pivot has helped stabilize regional oil flows, which remain robust despite the ongoing geopolitical friction.
Source: The Times of IndiaOil prices declined Monday as Middle East exports stayed robust, despite recent missile strikes on Saudi infrastructure and heightened geopolitical risk.
Source: CNBC
