Oil prices pare losses as Hormuz, Houthi tensions persist

AI Summary

Oil prices recovered some losses as tensions around the Strait of Hormuz and Houthi attacks on Saudi infrastructure kept supply risks elevated. Prices had fallen after President Donald Trump played down the likelihood of further US strikes against Iran.

Oil prices fell on Monday as U.S. President Donald Trump played down the likelihood of further military strikes against Iran, easing immediate concerns over another escalation in the conflict. However, continued attacks on commercial shipping through the Strait of Hormuz and renewed Houthi strikes on Saudi infrastructure kept supply concerns elevated. As of 03:18 ET ...