Oil Slides Below $100 as Middle East Tensions Face Policy Shifts

The broader energy sector saw a retreat in share prices, mirroring the decline in active futures contracts. Diesel futures led the downward trend, shedding 6.5% from recent record highs as supply concerns began to temper. Traders remain caught between the persistent volatility caused by regional conflicts and the potential for increased global supply should the proposed U.S. policy changes materialize.

Simultaneously, the geopolitical fallout from regional instability reached Riyadh, where Saudi officials postponed their premier investor conference. This decision underscores the mounting pressure from Iran-backed Houthi rebel attacks in Yemen, which have disrupted maritime trade routes and stalled the kingdom's efforts to project economic stability to international stakeholders.