Oil Prices Dip Amid Supply Fears | Bermuda News

Oil prices dipped over 2% as investors fret over weakening global demand and soaring U.S. stockpiles, after a sharper 3.5% plunge triggered by Houthi drone strikes on a key Saudi refinery—sparking fears of supply disruption in a tight market. The attack also pushed diesel prices to record highs, while OPEC and the IEA slashed forecasts for 2026 demand growth and revised down this year’s consumption outlook. Meanwhile, tensions escalate over control of the Strait of Hormuz, Iran and the U.S. clash over blame, and Russia’s exports slump as drone strikes force refineries offline—including one in Orsk potentially shuttered for six months. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/317e384efde6ea61