Oil’s recent moves may have tracked Iran and Gulf reports before confirmation

Brent crude futures rose 1.98% to $116.13 a barrel early Oct. 28, a Stocktwits report said, after Yemen’s Houthis said they hit Saudi Arabia’s Ras Tanura refinery; Saudi authorities did not immediately confirm the strike, Reuters reported. On Nov. 2, oil fell more than 3% on reports that the U.S. and Iran are seeking diplomatic options, our story reported. Read together, oil’s recent moves may have tracked Iran and Gulf reports before they were confirmed or concluded.

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