Oil prices fell for a fourth consecutive session on Monday as investors hope of a recovery in Saudi Arabian shipments, even as attacks by Yemen’s Iran-backed Houthis continued to raise tensions across the Middle East amid a stalemate between the US and Iran.
The Houthis said on Saturday that they had targeted "sensitive" sites in the Saudi capital Riyadh with missiles and drones, along with an Aramco facility in Yanbu on the Red Sea, a key oil export hub. The attacks on Saudi Aramco's East-West pipeline have led the state energy company to increase exports through the Strait of Hormuz this month and next, after suspending some shipments through Yanbu.
