Global oil prices fell on Monday after surging near the highest level in almost six months late last week, despite continued attacks on Saudi Arabia by the Houthi group, raising concerns over the global energy supply.
Global oil prices declined on Monday, 26 October, after soaring close to the highest level in nearly six months late last week. However, concerns about oil supply persist as the Houthi group continues attacks on Saudi Arabia, one of the world's major oil exporters.
As of 00:18 GMT, U.S. West Texas Intermediate (WTI) crude oil futures dropped $1.60, or 1.55%, to $101.67 per barrel, while Brent crude futures fell $1.56, or 1.34%, to $115.16 per barrel.
Earlier, oil prices closed nearly $3 higher per barrel on Friday after the Houthi group attacked targets in Saudi Arabia, causing market worries that the conflict could disrupt energy supplies. Over the past week, Brent crude prices rose 6%, while WTI increased 2.3%.
Tensions remained high over the weekend, with the Houthi group reporting attacks on Saudi Arabia's airports and oil facilities on Saturday. Saudi authorities stated on Sunday they successfully intercepted additional missiles and drones.
Recently, Saudi Arabia partially resumed operations at its main airport on Sunday following damage from previous attacks. However, the Houthi group declared it will continue targeting the airport, keeping markets alert to ongoing risks to oil and energy supply.
: Sourcechannelnewsasia
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