Oil: WTI falls $1.64 to $95.60 as Saudi pipeline supply recovery nears
WTI crude oil on the November contract traded down $1.64 at $95.60. That leaves it below last week's close of $95.94, a modest win for the bears. The market has received a mixed series of updates on the pipeline attacks in Saudi Arabia. The latest reports say operators are building bypasses around the damaged pumping stations and could soon have half of the lost supply back online. Traders are pricing out part of the supply-disruption premium as the prospect of restored Saudi flows improves. The source does not reference any currency pairs or technical levels. For traders, further confirmation that Saudi supply is returning could keep pressure on crude prices. Any setback in repairs, or renewed attacks, could quickly revive the risk premium.
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