Daily newsletter · Tue 13 Oct 2026
Brent crude rose to US$106.65 after weekend attacks on Saudi Arabia and tankers
Brent crude rose 1.84% to US$106.65 a barrel on Monday, its highest close in about two weeks. West Texas Intermediate, the American benchmark, gained 2.06% to US$93.74.
The weekend went badly in the Gulf. Houthi rebels from Yemen claimed strikes on Riyadh on Saturday, including the area around King Khalid International Airport. Two tankers were then attacked near Oman and in the Strait of Hormuz.
The stock market followed the oil price. Energy was the best of the S&P 500's 11 sectors, up 1.43%.
The calmer news came from Russia, and it did not last. Donald Trump said on Friday that Russia would supply more than 300,000 tonnes of diesel to world markets. On Sunday he announced an energy ceasefire between Russia and Ukraine.
By Monday Volodymyr Zelensky was saying Russia had already broken it, with fresh strikes on Ukrainian energy sites. The Kremlin said only that contacts were ongoing.
the shipping lanes. Russian diesel helps at the margin, but Brent is priced off the Gulf, and the weekend showed that the route out of it is still under fire.
More in
All stories →- Tuesday 10 November An $8 billion Iranian proposal reached the White House and took another 4% off oil
- Monday 9 November Energy stocks had their worst week since April 2025 as the war premium drained out of oil
- Tuesday 3 November Oil fell more than 7% because Iran and the United States started talking
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