In a report by British news agency Reuters, it was said that on Monday (September 21) morning, the price of Brent crude fell by 81 cents, or 0.78 percent, to $103.06 per barrel. At the same time, the price of West Texas Intermediate (WTI) fell by 89 cents, or 0.89 percent, to stand at $99.41.
Reuters said the drop in oil prices occurred because optimism grew among investors that shipping from Saudi Arabia would return to normal. If the supply system remains normal, the risk of a major crisis caused by Middle East conflict also decreases.
However, security concerns surrounding Saudi Arabia have not yet completely disappeared. Yemen's Houthi group launched attacks targeting various important installations, including Riyadh, last Saturday. Among them was a facility of state oil company Aramco.
Saudi authorities claim that all missiles and drones used in the attack were intercepted. As a result, no report of major disruption to the country's oil supply and transportation system has been received so far.
