Oil slides over 2% as traders weigh Saudi attack risks, demand destruction

A pumpjack operates after sunrise in Kern County, which has a long history of oil production, in California’s 22nd Congressional District on Oct. 16, 2026 near Bakersfield, California.Mario Tama | Getty ImagesU.S. crude oil fell over 2% on Monday as investors weighed the threat of further attacks on Saudi Arabian energy infrastructure against concerns that elevated prices could eventually erode demand.U.S. West Texas Intermediate futures slid 2.19% to $101 a barrel, while Brent crude futures declined 1.89% to $114.51 a barrel.Stock Chart IconStock chart iconOil prices year-to-dateThe pullback followed a sharp rally on Friday after attacks by Yemen's Houthi militants on Saudi Arabia reignited fears of disruptions to global energy supplies.Tensions remained elevated over the weekend as the Houthis said they had targeted Saudi Arabia's main airport in Riyadh and oil facilities on Saturday. Saudi authorities said Sunday that they had intercepted additional missiles and drones.The kingdom partially resumed operations at its main airport on Sunday despite damage from earlier attacks, even as the Houthis threatened further strikes.The continued hostilities have heightened concerns about t...