16:01 - 12.10.2026

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October 12, Fineko/abc.az. Oil prices climbed toward two-week highs on Monday as fresh attacks on Saudi Arabian energy infrastructure overshadowed potential supply increases following US President Donald Trump's announcements regarding Russian diesel exports and a Russia-Ukraine energy truce.

Escalating geopolitical friction in the Middle East fueled renewed concerns over global supply security, driving crude futures higher.

Retracing earlier losses, Brent crude futures rose $1.24, or 1.2%, to $106.19 a barrel by 11:24 GMT, marking their highest level since September 29. US West Texas Intermediate (WTI) crude gained $1.11, or 1.2%, reaching $92.96 a barrel. Escalating geopolitical friction in the Middle East fueled renewed concerns over global supply security, driving crude futures higher despite expectations of returning Russian fuel flows.

Market analysts note that supply disruption risks continue to outweigh the impact of potential Russian fuel flows returning to international markets.