Under mixed signals, oil prices fell slightly in early trading. Analysts at ANZ Research said in a research report that, on the one hand, there are signs that oil supply is increasing. The analysts said, “Persian Gulf oil producers such as the UAE and Saudi Arabia are said to be doing their best to keep exports flowing, including switching transponders to transport goods through the [Hormuz] Strait without being detected. “On the other hand,” these analysts added, “there are reports that the Iran-backed Houthis have targeted Saudi Aramco's oil refinery in Jizan on the Red Sea coast. “West Texas Intermediate Oil futures fell 0.1% to $81.20 a barrel in recent months.

Under mixed signals, oil prices fell slightly in early trading. Analysts at ANZ Research said in a research report that, on the one hand, there are signs that oil supply is increasing. The analysts said, “Persian Gulf oil producers such as the UAE and Saudi Arabia are said to be doing their best to keep exports flowing, including switching transponders to transport goods through the [Hormuz] Strait without being detected. “On the other hand,” these analysts added, “there are reports that the Iran-backed Houthis have targeted Saudi Aramco's oil refinery in Jizan on the Red Sea coast. “West Texas Intermediate Oil futures fell 0.1% to $81.20 a barrel in recent months.