Oil slips from near six-months highs despite supply concerns

Newswire reports that crude prices moved lower on Monday after approaching their highest levels in almost half a year late last week. At 0018 GMT, US crude futures stood at $101.67 per barrel, down $1.60, or 1.55%; Brent was at $115.16, a decline of $1.56, or 1.34%.

Newswire reports that prices gained close to $3 at Friday’s settlement amid concern about energy supplies following Houthi attacks in Saudi Arabia. For the week, Brent advanced 6% and US West Texas Intermediate rose 2.3%.

Newswire reports that Houthi forces said they struck the Saudi airport and oil facilities on Saturday. The outlet says Saudi Arabia reported on Sunday that it had intercepted additional missiles and drones.

Newswire reports that the world’s leading oil exporter partially resumed activity at its main airport on Sunday, after damage in an earlier round of Houthi attacks. Newswire also reports that the Houthi group pledged to continue targeting the airport.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.