Crude oil futures rebound after Friday drop
Renewed attacks on oil infrastructure in the Middle East and fading hopes of diplomatic progress around Strait of Hormuz weighed on crude prices at the start of the week, after Friday’s decline.
Renewed attacks on oil infrastructure in the Middle East and diminishing hopes for diplomatic progress to end disruption in the Strait of Hormuz pressured crude oil prices at the start of the new week. The move came amid the shutdown of Saudi Arabia's East-West pipeline, as the postponement of talks added to concerns over the supply disruption.