RismadarVoice Reporters
October 12, 2026
Global oil prices climbed on Monday, with Brent crude approaching $107 per barrel amid renewed concerns over energy supply disruptions following reported attacks in Saudi Arabia and uncertainty surrounding a proposed ceasefire on energy infrastructure between Russia and Ukraine.
Brent crude rose by 2 per cent to $106.83 per barrel at approximately 1:30 p.m. GMT, while the United States benchmark, West Texas Intermediate, gained 1.8 per cent to $93.54 per barrel, according to the market figures cited in the report.
The increase followed reported weekend attacks attributed to Yemen’s Houthi movement, including strikes around Riyadh airport, which heightened concerns about the security of Saudi infrastructure and potential disruptions to regional energy supplies.
Market uncertainty was further intensified by comments from United States President Donald Trump concerning a proposed arrangement to halt attacks on energy facilities in Russia and Ukraine.
Although Trump announced what he described as an energy ceasefire, questions remained over whether both parties had formally accepted the arrangement and how it would be implemented.
Russian authorities declined on Monday to confirm that an agreement had been reached, while Ukrainian President Volodymyr Zelensky maintained that any suspension of attacks on energy infrastructure must apply equally to both sides.
The developments followed Washington’s announcement of a temporary relaxation of sanctions affecting Russian diesel, a decision that attracted criticism from Ukraine and some European governments.
Saxo UK strategist Neil Wilson attributed the strength in oil prices to the combination of security concerns in Saudi Arabia and uncertainty surrounding diplomatic efforts to reduce attacks on energy facilities.
Saudi Arabia’s energy minister also acknowledged the pressure placed on the kingdom’s infrastructure by recent attacks attributed to the Houthis.
Meanwhile, global equity markets recorded mixed performances as investors prepared for the release of United States inflation figures and a new round of corporate earnings.
At the time of reporting, the Dow Jones Industrial Average had gained 0.2 per cent to 51,743.40 points, while the S&P 500 recorded a marginal increase to 7,814.80 points.
The Nasdaq Composite declined slightly to 27,350.29 points.
European markets performed more strongly, with London’s FTSE 100 advancing 0.8 per cent to 10,631 points. Germany’s DAX rose 0.7 per cent to 25,262.89 points, while France’s CAC 40 gained 0.2 per cent to 7,820.75 points.
The US dollar also strengthened against several major currencies as investors assessed the possible implications of upcoming inflation data for Federal Reserve interest-rate decisions.
Attention is turning to quarterly financial results from major American banks, including JPMorgan Chase, Goldman Sachs and Bank of America.
The earnings reports are expected to provide further indications of consumer spending, household financial conditions and the impact of borrowing costs on businesses.
eToro investment analyst Bret Kenwell said elevated Treasury yields, interest rates and inflation were placing greater pressure on companies to demonstrate strong financial performance.
Investors are also monitoring technology companies to assess whether substantial investments in artificial intelligence are translating into sustainable earnings growth.
The direction of oil prices in the coming days will depend partly on developments affecting Middle Eastern energy infrastructure, the Russia-Ukraine negotiations and broader expectations for global demand.
