Morning Bid: More oil is flowing, depending on who you ask

Oil prices have retreated from their early week highs as conflicting reports emerge about increased Middle East supply. Brent crude fell 2% after the Houthis attacked Saudi Arabia's capital, but optimism around restored East-West pipeline flows tempered the drop. Admiral Brad Cooper claimed recent crude movement was record high, yet shipping data and analytics firm Kpler show divergent figures.

Saudi oil shipments through the Strait of Hormuz averaged 2.9 million barrels per day over recent days, up from August's 700,000 bpd low. Lower oil prices lifted most share markets, with tech stocks leading in South Korea and modest gains in the Nasdaq and S&P 500. European markets edged up, unaffected by a recent conservative party election defeat in Germany.

The euro held steady, while the dollar dipped under 157.00 yen. Busy diplomatic week ahead with Trump's UN speech and Xi-Trump summit looms. Market-moving announcements include ECB officials' comments and Fed's Chicago regional bank president's remarks.