Crude oil prices fell from the highest levels they reached in the previous session, as investors had gained clarity on reports of attacks on oil facilities in Saudi Arabia yesterday.
Earlier, the shock of reports of attacks on the Ras Tanura oil port had pushed Brent crude oil prices to break the $ 70 a barrel price level, the first time since the pandemic crisis began.
The attack by Yemeni Houthi rebels on an oil port capable of exporting around 6.5 million barrels a day, was the most serious attack in Saudi Arabia since September 2019 when a major processing center and two oil fields were attacked.
However, the market breathed a sigh of relief as the attack was successfully repulsed and it did not affect oil facilities in the world's major crude oil exporting country.
Nevertheless, markets remain wary of rising tensions in the Middle East and are likely to push up oil prices further.
In the Asian session, US WTI traded steady at 65.31 a barrel, while Brent crude was positive at $ 68.57 a barrel.
Meanwhile, OPEC +’s decision last week to stay with its production cut commitment until April, continued to provide support for black commodity trading.
