Flames burn off at an oil processing facility in Saudi Aramco’s oilfield in the Rub’ Al-Khali desert in Shaybah, Saudi Arabia, in October 2018.
Simon Dawson | Bloomberg | Getty Images
Energy prices are hovering above the $75 level after OPEC and its allies could not reach a key deal on their oil output policy last week, amid rising tensions between Saudi Arabia and the UAE.
Crude prices are seeing some volatility after an initial spike, but retreated slightly on Monday. Brent futures slipped 0.11% to $76.09 per barrel, while U.S. crude futures dipped 0.13% to $75.06 per barrel.
The energy alliance, often referred to as OPEC+, will meet again on Monday after failing to reach a deal twice…