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Oil slips from near six-months highs despite supply concerns - Finance news and analysis from Global Banking & Finance Review
Finance

Oil slips from near six-months highs despite supply concerns

Published by Global Banking & Finance Review

Posted on October 25, 2026

2 min read

· Last updated: October 26, 2026

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Oil prices drop after nearing six-month highs amid Saudi supply risks

Oil Market Movements and Saudi Supply Concerns

By Colleen Howe

Recent Price Fluctuations

BEIJING, Oct 26 (Reuters) - Oil prices fell on Monday after surging to near six-month highs late last week, although ongoing attacks on Saudi Arabia kept supply concerns in focus.

Current Oil Futures

US crude futures were down $1.60, or 1.55%, at $101.67 per barrel by 0018 GMT. Brent crude futures were down $1.56 or 1.34% at $115.16.

Previous Week's Performance

Prices had settled nearly $3 higher on Friday after Houthi attacks in Saudi Arabia stoked energy supply concerns. Brent finished the week up 6% and WTI ended 2.3% higher.

Impact of Houthi Attacks on Saudi Infrastructure

Continued Security Threats

Attacks continued over the weekend with Houthis saying they had attacked the Saudi airport and oil facilities on Saturday. Saudi Arabia said on Sunday it had intercepted more missiles and drones.

Operational Recovery Efforts

The top oil exporter restarted partial operations at its main airport on Sunday after damage in a previous round of Houthi attacks even as the militant group vowed to keep targeting the facility.

Reporting and Editorial Credits

(Reporting by Colleen Howe; Editing by Clarence Fernandez and Lincoln Feast.)

Key Takeaways

  • U.S. crude fell 1.55% to $101.67 bbl and Brent dropped 1.34% to $115.16, after gaining nearly 6% and 2.3% respectively last week amid rising supply fears.
  • Houthis carried out multiple weekend attacks—including on Riyadh airport and oil facilities—prompting Saudi interceptions of missiles and drones.
  • Broader market pressure stems from ongoing refinery outages, depleted inventories and elevated shipping costs that sustain a volatile risk‑premium in oil markets.

References

Frequently Asked Questions

Why did oil prices fall after reaching six-month highs?
Oil prices dropped due to market corrections, despite ongoing supply concerns from attacks in Saudi Arabia.
What caused the recent surge in oil prices?
The surge was driven by Houthi attacks in Saudi Arabia, which stoked fears about energy supply disruptions.
How did Brent and WTI crude futures perform?
Brent crude futures fell $1.56 to $115.16, while US crude futures dropped $1.60 to $101.67, after rising sharply last week.
How has Saudi Arabia responded to the attacks?
Saudi Arabia intercepted more missiles and drones and restarted partial operations at its main airport after damage.
Are supply concerns still affecting the oil market?
Yes, ongoing attacks and threats in Saudi Arabia are keeping supply worries in focus for the global oil market.

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