Oil Falls Over 2% as US Releases 400,000 SPR Barrels Amid Saudi Attack Risks
Updated
Updated · Reuters · Oct 25
Oil Falls Over 2% as US Releases 400,000 SPR Barrels Amid Saudi Attack Risks
3 articles · Updated · Reuters · Oct 25
Summary
U.S. crude fell $2.14 to $101.13 a barrel and Brent dropped $2.12 to $114.60 by 0232 GMT, pulling back after Friday’s surge to near six-month highs.
The retreat came after the U.S. authorized a 400,000-barrel Strategic Petroleum Reserve release to address a supply disruption at a Louisiana refinery.
Saudi supply risks still underpinned the market: Houthis said they attacked an airport and oil facilities on Saturday, and Riyadh said it intercepted more missiles and drones on Sunday.
Saudi Arabia also said it will begin storing crude in Singapore in the second half of 2027, a move aimed at strengthening regional supply-chain resilience.