Brief
Oil prices dip as US‑Iran tension eases but Saudi attacks linger
Brent and US crude slipped on Monday after hopes of reduced US‑Iran hostilities, but continued Houthi strikes on Saudi Arabia sustain supply concerns.
By Felo News Desk · Published
Oil prices fell on Monday, with Brent crude down $2.21 (1.89%) to $114.51 a barrel and US West Texas Intermediate down $2.23 (2.16%) to $101.04, recorded at 9:26 am Pakistan time, according to dailytimes.com.pk.
The decline followed diplomatic outreach by Qatari mediators to Tehran on Sunday, aimed at easing US‑Iran tensions, which analysts said temporarily reduced market anxiety.
Nevertheless, the Iran‑backed Houthis continued attacks, targeting a Saudi airport and oil facilities on Saturday and intercepting additional missiles and drones on Sunday, keeping investors wary of supply disruptions.
Market analyst Vandana Hari noted that while the immediate threat of renewed military action appeared to lessen, volatility could remain high because of the risk of further strikes.
Key facts
- Brent crude fell to $114.51 per barrel, down 1.89% (dailytimes.com.pk)
- WTI crude fell to $101.04 per barrel, down 2.16% (dailytimes.com.pk)
- Qatari mediators travelled to Tehran on Sunday to ease US‑Iran tensions (dailytimes.com.pk)
- Houthis claimed attacks on a Saudi airport and oil facilities on Saturday (dailytimes.com.pk)
- Vandana Hari warned that market volatility could stay high despite the dip (dailytimes.com.pk)
Sources
- [1] dailytimes.com.pk — originally reported as “Oil prices fall as hopes emerge for easing Iran war”
