Saudi warplanes bombed Yemen's Hadramout, killing more than 20 people.

West Texas Intermediate (WTI) crude oil futures on the New York market closed lower on Friday (January 2), the first trading day of 2026, after facing its sharpest year-on-year decline since 2020. Investors weighed concerns about oversupply against geopolitical risks, including the war in Ukraine and Venezuela's oil exports.

Later, medical sources in Yemen revealed that more than 20 people have died and dozens more have been injured after Saudi Arabian warplanes intensified airstrikes on several areas in the oil-rich southeastern Hadramout province on Friday.

A source from Seiyun Public Hospital told Xinhua that the hospital received more than 20 bodies in the past few hours, while dozens of injured, including civilians, are receiving medical treatment.

Earlier today... The satellite television channel AIC, linked to the Southern Transitional Council (STC), reported that intensified Saudi airstrikes hit Seyun Airport and nearby residential buildings, killing seven members of the same family.

OPEC+, the group of oil-exporting countries and their allies, is scheduled to meet on Sunday (January 4), with most traders expecting OPEC+ to continue to slow production increases in the first quarter.

Analysts at Phillip Nova said the sluggish price movements reflect the tension between short-term geopolitical risks and long-term market fundamentals indicating an oversupply situation.