Oil: WTI falls back below $100, closing at $99.90 per barrel
(Il Sole 24 Ore Radiocor) - WTI crude on the NYMEX fell by $1.86, or 1.83 per cent, dropping back below $100: it closed the session at $99.90 per barrel. The fall, the second in a row, was due to renewed diplomatic efforts to ease tensions in the Middle East. According to a post in English published on the social media profile of Iran’s Supreme Leader, Mojtaba Khamenei met with his top national security adviser, Mohsen Rezaei, to discuss the conditions set by the Islamic Republic for an end to the war with the United States. According to the post, Khamenei stated that the current state of ‘neither war nor peace’ must end. He discussed ‘safeguarding national and regional security by maintaining control’ over the Strait of Hormuz. Meanwhile, on Monday in Tehran, the Saudi Defence Minister and the Iranian President, Masoud Pezeshkian, held direct talks aimed at easing tensions. The meeting was also attended by senior military and intelligence officials from Pakistan and Turkey, both allies of Saudi Arabia. Saudi Arabia has been repeatedly attacked in recent weeks by Houthi militants, who are allied with Iran. The Houthis have bombed energy infrastructure and civilian targets, such as airports. The Houthi attacks threaten to disrupt Saudi oil exports, which have proved resilient throughout eight months of conflict in the region.
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