The Middle East sent 12 million barrels of crude oil to sea, but international oil prices could not fall.

International oil prices rebounded on Tuesday (6th) after falling in early trading, with little change at the end. (Reuters)

[Financial Channel/Comprehensive Report] International oil prices rebounded on Tuesday (6th) after falling in early trading, with little change at the end. The market weighed the increase in crude oil exports from the Middle East, the Group of Seven Major Industrial Countries (G7) plan to release emergency diesel and crude oil stocks, and the supply concerns caused by the attack by the Houthis rebels in Yemen supported by Iran.

Brent crude futures rose 26 cents, or 0.3%, to settle at $100.58 a barrel.

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U.S. West Texas Intermediate (WTI) crude oil in New York rose 1 cent to settle at $89.44 a barrel.

The CEO of global commodities trading giant Vitol said on Tuesday that about 12 million barrels of crude oil and 2 million barrels of refined petroleum products have been shipped out by tankers from the Middle East every day in the past 7 to 10 days; this kind of export volume is the scale needed to reduce pressure on oil prices.

Saudi Energy Minister Abdulaziz bin Salman said on Tuesday that as of Tuesday morning, 5.8 million barrels of oil had been transported through the East-West Pipeline to the country's Red Sea export hub Yanbu.

However, oil price losses were limited by the prospect of further supply disruptions in the Middle East.

Saudi Arabia's aviation authority stated that Saudi Arabia's airports in Jazan and Najran were attacked twice on the evening of Monday (5th), injuring three people and causing limited damage; as hostilities between Saudi Arabia and the youth movement escalated, the situation further deteriorated.

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