Brent slips as Iran president discusses mediation with Pakistan army chief
This comes amid Houthi attacks on Saudi infrastructure and reports of vessel attacks in the Gulf
Brent crude prices dipped as Iran's president engaged in mediation talks with Pakistan's army chief, amid ongoing Houthi attacks in the Gulf region. The front-month contract for Brent crude fell to $108.72, down 0.76% from its five-month high of $111.99 earlier in the day. US West Texas Intermediate crude also declined by 0.68% to $102.96.
This comes after a peace agreement signed in June between Iran and Pakistan faltered, leading to renewed fighting between the two nations. Meanwhile, Houthi attacks on Saudi infrastructure continued, including targets such as Aramco sites, Riyadh's King Khalid International Airport, and Abha airport. At least 18 vessels were reportedly attacked over a two-week period, keeping oil prices above $100 a barrel and reflecting the market's uncertainty.
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Also reported by 2 other outlets
- Maldives president lands in Pakistan for three-day state visit tribune.com.pk
- Iran’s military chief warns of stronger response to any new attack middleeasteye.net
