Oil prices fall amid steady flows from the Middle East — CNBC
Oil prices fell on the global market on Monday as traders watched for a possible resumption of shipments from Saudi Arabia after Saturday’s missile and drone attacks, which were carried out by Iran-backed Houthis, according to CNBC. November Brent futures lost 1.66% and fell to $102.15 per barrel. October futures for U.S. WTI crude declined by 1.83% to $98.46 per barrel.
Oil flows from the region
In a note dated September 18, JPMorgan analysts said that oil flows from the Middle East remain “surprisingly strong” despite disruptions to Saudi Arabia’s East-West pipeline. According to their estimates, total flows averaged 17.1 million barrels per day over the previous ten days. This is 6.1 million barrels per day below the 2025 average.
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Supply risks
At the same time, potential risks to supply remain in the market. U.S. President Donald Trump said in an interview with Fox News that he is in the process of making decisions regarding the U.S. war with Iran and that “very big things” could happen in the near future.
Daniel Takieddine, co-founder and CEO of Sky Links Capital Group, believes that oil prices will likely depend on the pace of export normalization and diplomatic progress. According to him, any setback or further deterioration in shipping conditions could tighten the physical market and push prices higher again.
