Oil falls as crude flows remain 'surprisingly strong'
Oil fell Monday, as traders keep watch for a recovery in shipments from Saudi Arabia, even as Mideast tensions continue to escalate.
TL;DR
- Oil futures fell on Monday as traders watched for shipment recovery from Saudi Arabia.
- Houthi attacks on Saudi Arabia did not significantly disrupt Middle East oil flows.
- JPMorgan analysts noted that total oil flows averaged 17.1 million barrels per day in the past 10 days.
- U.S. President Donald Trump indicated potential significant developments in the US-Iran situation.
- Prices are expected to remain tied to export normalization and diplomatic progress.