Oil prices rise by nearly USD2

Brent crude futures settled USD1.93 higher at USD106.65 a barrel on Monday, a gain of 1.8 percent and the strongest close since September 15, according to Business Recorder. Attacks on Saudi Arabia overshadowed hopes of greater supply, even though US President Donald Trump praised fresh Russian diesel exports and a ceasefire covering energy targets between Russia and Ukraine.

The Houthis said they hit Riyadh's international airport on Saturday, leaving 13 dead and more than 300 injured, and more attacks followed Sunday. The escalation could further constrain crude supplies from one of the world's largest producers, while a drone also hit a tanker near Oman's Sohar.

Goldman Sachs, in a note, lifted its December Brent projection to USD90 per barrel from USD85, putting the risk premium at just over USD20. Meanwhile, ICE gasoil lost 2.3 percent, trading at USD1,449 per metric ton, after Trump said Russia would promptly deliver over 300,000 metric tons of diesel to the US and world markets. The International Energy Agency asked members to assess whether further diesel releases are needed and to speed up pledged volumes.