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Oil prices rise as attacks in Saudi Arabia lift Middle East supply risk
West Texas Intermediate was trading around $93.8 per barrel, while Brent rose to $106.7.
Oil prices jumped in early trading Monday as fresh attacks on Saudi Arabia and on oil tankers near the Strait of Hormuz pushed Middle East supply risks back into focus, OilPrice reported.
According to OilPrice, the gains came despite President Donald Trump’s announcements of additional Russian diesel supplies and a Russia-Ukraine energy ceasefire.
West Texas Intermediate was quoted at about $93.78 per barrel, with Brent at $106.7 as of the update.
The report also showed natural gas near $3.182 per unit and heating oil around $4.686 per barrel.
Latest closeBrent $103.93 ▲3.7%|Nat gas $3.136 ▼2.1%