India, Sept. 21 -- Oil prices declined on Monday as traders monitored developments in Saudi Arabia following missile and drone attacks by Iran-backed Houthi forces. Markets are also watching the wider impact of the ongoing US-Iran conflict on crude supplies and shipping routes. International benchmark Brent crude for November delivery fell 1.66% to $102.15 a barrel. Meanwhile, US West Texas Intermediate (WTI) crude for October delivery declined 1.83% to $98.46 per barrel.

Why Are Oil Prices Falling?

Despite continued concerns over Middle East supply disruptions, traders are assessing whether oil shipments from Saudi Arabia can gradually recover. JPMorgan analysts said oil flows from the region have remained relatively strong despite dis...