Oil slips from near six-months highs despite supply concerns

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The Economic Times daily newspaper is available online now. Read Today's Paper Oil slips from near six-months highs despite supply concernsReutersLast Updated: Oct 26, 2026, 07:20:00 AM ISTSynopsis

Oil prices took a dip on Monday after peaking at six-month highs due to rising supply concerns stemming from ongoing militant attacks. US crude futures tumbled sharply, with Brent crude following suit. The heightened fears arose from the recent Houthi attacks in Saudi Arabia, especially after a notable price spike last Friday.

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.

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.

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.

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.

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.
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