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Oil slips from near six-month highs despite supply concerns

Oil slips from near six-month highs despite supply concerns

Oil prices fell on Monday after surging to near six-month highs late last week, though ongoing attacks on Saudi Arabia kept supply concerns in focus. Prices had settled nearly $3 ​higher on Friday after Houthi attacks in Saudi Arabia stoked energy supply concerns.

Oil prices fell on Monday after surging to near six-month highs late last week, though ongoing attacks on Saudi Arabia kept supply concerns in focus.

US crude futures fell $1.60, or 1.55%, to $101.67 per barrel by 0018 GMT. Brent crude futures ​were down $1.56, or 1.34%, at $115.16.

Prices had settled nearly $3 ​higher on Friday after Houthi attacks in Saudi Arabia stoked energy supply concerns. Brent finished the week up 6%, and WTI ended 2.3% higher.

Attacks continued over the ‌weekend ⁠with Houthis saying they had attacked the Saudi airport and oil facilities on Saturday. Saudi Arabia said on ​Sunday ​it had ⁠intercepted more missiles and drones.

The top oil exporter restarted partial ​operations at its main airport ​on ⁠Sunday after damage in a previous round of Houthi attacks, even as ⁠the ​militant group vowed to ​keep targeting the facility.

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