Brent crude settled down 0.3% at $109.55 a barrel on Monday, while U.S. WTI gained 2.2% to $103.66. Gulf crude flows averaged about 8.5 million barrels per day last week, down from more than 20 million the previous week, Kpler said.
Brent crude futures settled 31 cents lower at $109.55 a barrel after falling more than $3 earlier in the session. U.S. West Texas Intermediate rose $2.25 to $103.66, its highest settlement since September 15, while the more liquid December contract settled down 0.5% at $98.54.
Yemen's Houthis said they attacked Saudi energy, airport and military targets, including an Aramco facility in Yanbu and the Shaybah oilfield. Saudi authorities did not immediately confirm the claims, which Reuters could not independently verify. Iran's Revolutionary Guards said an oil tanker caught fire and exploded after striking a naval mine in the southern Strait of Hormuz.
Kpler said crude flows through the region averaged about 8.5 million barrels per day last week, down from more than 20 million the previous week, citing increased threats to commercial shipping. The firm reported at least 10 confirmed incidents involving commercial vessels during the week. An analyst said increases in exports through Hormuz may prove short-lived as Iran could escalate attacks ahead of the November 3 U.S. midterm elections.
