Oil Declines as Concerns Over Extended Supply Disruptions Ease — Market Talk

Oil declines in early Asian trade. Initial concerns over extended disruptions to pipeline flows from Saudi Arabia seem to be easing, say ANZ Research analysts in a note. The country said that it expects the East-West pipeline to return to about half its capacity within days after it was shut down following a drone attack. However, the market is likely still focused on the longer-term fallout from the attacks by the Houthi militant group on the country, as the Iranian-backed group has been targeting energy infrastructure, ANZ adds. Front-month WTI crude-oil futures are down 0.5% at $99.76 a barrel; front-month Brent crude futures are 0.3% lower at $103.54 a barrel. (megan.cheah@wsj.com)