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Oil Edges Lower Amid Mixed Signals

Wall Street Journal Markets •
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2335 GMT — Oil edges lower in early trade amid mixed signals. On one hand, there are signs of oil flows rising, ANZ Research analysts say in a research report.

"Persian Gulf producers such as the U.A.E. and Saudi Arabia are said to be doing what they can to keep exports flowing, including switching transponders to move cargo through the Strait of Hormuz without detection," the analysts say.

On other hand, "reports emerged that the Iranian-backed Houthi militant group had targeted Saudi Aramco's oil refinery in Jazan on the Red Sea Coast," the analysts add.

Front-month WTI crude oil futures are 0.1% lower at $81.20 per barrel.