NewzOil prices rose during Wednesday trading, driven by trader evaluations of competing supply risks. Brent crude futures increased by 89 cents, or 0.8%, reaching $106.58 a barrel by 0030 GMT, while US West Texas Intermediate also saw movement.
The upward pressure on prices stems from ongoing fighting between Yemen’s Iran-allied Houthis and Saudi Arabia, which introduces potential supply risks from the region. At the same time, the market is weighing the prospect of increased diesel flows originating from Russia.
In-depth summary · AI, neutral