Crude Slips on Diplomacy Signals Amid Yemen-Saudi Standoff
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Prices eased this week after Reuters reported China is pressing Iran to help rein in Houthi attacks following a direct Saudi appeal, offering the first tangible sign of de-escalation in a conflict that has disrupted regional crude flows for months.
Additional relief came after Saudi Arabia offered extra crude cargoes through Oman, easing near-term supply fears, while a smaller-than-expected draw in U.S. crude inventories added further downward pressure on benchmark prices.
Separately, U.S. officials held direct talks with Yemen's Ansar Allah over the weekend, with the group committing not to target American interests, a development that could further calm the commodities complex if it holds.