Oil Prices Fall in Global Markets Despite Fears of Attacks on Saudi Arabia

Crude oil prices fell slightly in global markets after rising the previous day. Prices have been fluctuating amid fears of oil supply disruptions due to possible attacks on Saudi Arabia and expectations of increased diesel exports from Russia.

According to Qatar-based Al Jazeera, Brent crude fell by 61 cents, or 0.57 percent, to $106.04 per barrel at midnight GMT on Tuesday. At the same time, US West Texas Intermediate (WTI) crude dropped by 47 cents, or 0.5 percent, to $93.27 per barrel.

Oil prices had risen by around $2 on Monday. Brent crude settled at $106.65 per barrel that day, its highest closing price since September 15. Analysts say fears of supply disruptions following attacks on Saudi Arabia are putting upward pressure on oil prices. Meanwhile, the possibility of increased diesel exports from Russia has raised expectations of improved supply. These opposing factors have contributed to fluctuations in global oil prices.