Oil is down over 2% as traders weigh Saudi attack risks against demand destruction. The tape is pricing demand weakness, not supply fear, so energy stays on the back foot until crude finds a bid.

What happened: Oil prices fell as investors weighed the threat of further attacks on Saudi Arabian energy infrastructure against concerns that elevated prices could erode demand. Why it matters: Traders are balancing supply risk from potential attacks on Saudi energy infrastructure against the possibility that elevated prices could erode demand.

Oil prices fell as investors weighed the threat of further attacks on Saudi Arabian energy infrastructure against concerns that elevated prices could erode demand.

Traders are balancing supply risk from potential attacks on Saudi energy infrastructure against the possibility that elevated prices could erode demand.