Oil slips; investors eye Mideast developments

SINGAPORE: Oil prices slipped on Monday with traders watching out for supply disruption risk in the Middle East following strikes by U.S. and British forces to stop Houthi militia in Yemen from attacking ships in the Red Sea.

Brent crude futures fell 31 cents, or 0.4%, to $77.98 a barrel by 0124 GMT after settling up 1.1% on Friday. U.S. West Texas Intermediate crude was at $72.36 a barrel, down 32 cents, or 0.4%, following a near 1% gain in the previous session.