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Oil prices rose more than 1% after an attack on a major Saudi Arabia refinery by Iran-backed Houthi rebels renewed supply concerns. Global shares were mixed after a US stock rally, while US futures edged higher.
Saudi Aramco headquarters suffered extensive damage, sources say Threat to escalate conflict reignited by Iran war Red Cross says Yemen hospitals struggling to cope WFP says life-saving assistance cut off from 600,000 in Taiz (Adds statements from Red Cross and WFP in paragraphs 17-18) By Timour Azhari, Jana Choukeir a
WTI and Brent crude were higher after earlier gains, with prices supported by Middle East conflict concerns and Hurricane Isaias-related production shutdowns. The market also cited expectations of additional reserve releases and gradual supply increases.
Oil futures rose sharply as concerns intensified over renewed strikes on Iran, attacks on shipping in the Gulf and production shut-ins ahead of Tropical Storm Isaias. WTI was up 4.7% at $92.46 a barrel and Brent gained 4.5% to $104.76.
CPC Blend oil loading in October was offered at firmer levels, while Urals oil cargoes for October loading traded actively. Demand for these grades remained firm due to ongoing Middle East supply disruptions, though traders had earlier expected these to ease. Russia's Moscow refinery halted crude processing after a dro
Diesel prices have rallied in Europe and the United States to record highs amid war-related export cuts from major producers including Russia, Saudi Arabia, and the United Arab Emirates, with little options cited to prevent further rises.