Oil prices slip as traders weigh strong Mideast exports against Gulf tensions
USO•Brent futures edged down 4 cents to $100.28 a barrel, while U.S. WTI fell 11 cents, or 0.1%, to $89.33. Resilient Middle Eastern exports and a G7 emergency stockpile release eased supply concerns, while attacks on Saudi targets kept traders wary.
1. Prices edge lower
Brent crude futures lost 4 cents to $100.28 a barrel by 0003 GMT, while U.S. West Texas Intermediate crude futures fell 11 cents, or 0.1%, to $89.33. KCM Trade chief analyst Tim Waterer said traders were digesting a modest easing in supply-side anxiety.
2. Exports and reserves
Middle Eastern crude exports exceeded pre-war levels on four days during the last week of September, shipping data showed. The G7 agreed to release 100 million barrels of diesel and crude from emergency reserves and pledged to refrain from energy export restrictions.
3. Gulf risks persist
Yemen's Houthis said they attacked several sites in Saudi Arabia, including King Khalid International Airport, an Aramco refinery in Rabigh and Abha airport; there was no immediate Saudi confirmation. Waterer said the floor under prices looked reasonably firm without a clear diplomatic breakthrough or further material improvement in export efficiency.
