Oil prices rise as attacks on Saudi Arabia overshadow Trump's Russian supply announcements

Oil prices climbed to near a two-week high on Monday, Business Recorder reported, as attacks on Saudi Arabia outweighed prospects of extra supply. Brent crude futures gained $1.24, or 1.2%, to $106.19 a barrel by 1124 GMT, while US West Texas Intermediate advanced $1.11 to $92.96. The Houthis claimed a Saturday strike on Riyadh's international airport, which left 13 dead and over 300 injured, and further attacks followed on Sunday.

Tanker traffic through the Strait of Hormuz has also been hit this month, with one vessel struck by a drone near Oman's Sohar and another damaged while transiting the strait, according to the UK Maritime Trade Operations. Those incidents could undercut the September rebound in Middle East crude shipments. Earlier, Trump had welcomed new Russian diesel shipments and an energy truce between Russia and Ukraine, though Ukraine's Zelenskiy accused Moscow of breaching it on Monday.

Goldman Sachs lifted its December Brent forecast to $90 from $85 a barrel and put the risk premium at a little over $20 per barrel. ICE gasoil futures dropped 2.3%, reaching $1,449 a metric ton, following Trump's Friday comments that Russia would soon ship over 300,000 metric tons of diesel. The International Energy Agency's Fatih Birol asked all members to judge whether more diesel should be released, and told lagging countries to speed up pledged supplies.