Oil slides over 2% as traders weigh Saudi attack risks, demand destruction

U.S. crude oil fell over 2% on Monday as investors weighed the threat of further attacks on Saudi Arabian energy infrastructure against concerns that elevated prices could eventually erode demand. U.S. West Texas Intermediate futures slid 2.19% to $101 a barrel, while Brent crude futures declined 1.89% to $114.51 a barrel. The pullback followed a sharp rally on Friday after attacks by Yemen's Houthi militants on Saudi Arabia reignited fears of disruptions to global energy supplies. Tensions remained elevated over the weekend as the Houthis said they had targeted Saudi Arabia's main airport in Riyadh and oil facilities on Saturday. Saudi authorities said Sunday that they had intercepted additional missiles and drones.