Crude Oil Rises for 3rd Session
Crude oil rose more than 2% to above $93.8 a barrel on Monday, extending gains for a third consecutive session as renewed attacks in Ukraine and the Middle East heightened supply concerns. Ukrainian President Volodymyr Zelenskyy said Russia had continued striking energy infrastructure, including a gas-production facility, undermining the energy ceasefire previously announced by US President Donald Trump. Zelenskyy added that Ukraine would continue its own attacks against Russian targets. Meanwhile, tensions intensified in Saudi Arabia, where authorities reported further drone and cruise missile attacks following a deadly weekend strike on Riyadh’s airport. The Saudi-led coalition also reported additional attacks linked to Iran-backed Houthi militants in Yemen. Separately, tanker attacks in the Strait of Hormuz raised concerns over shipping security, despite crude exports from the Persian Gulf remaining relatively strong.
Story updates
8 a barrel on Monday, extending gains for a third consecutive session as renewed attacks in Ukraine and the Middle East heightened supply concerns. Ukrainian President Volodymyr Zelenskyy said Russia had continued striking energy infrastructure, including a gas-production facility, undermining the energy ceasefire previously announced by US President Donald Trump. Zelenskyy added that Ukraine would continue its own attacks against Russian targets. Meanwhile, tensions intensified in Saudi Arabia, where authorities reported further drone and cruise missile attacks following a deadly weekend strike on Riyadh’s airport.
The Saudi-led coalition also reported additional attacks linked to Iran-backed Houthi militants in Yemen. Separately, tanker attacks in the Strait of Hormuz raised concerns over shipping security, despite crude exports from the Persian Gulf remaining relatively strong.