NewzOn Monday, international oil prices climbed to nearly $107 per barrel for Brent crude as supply concerns intensified heading into the northern hemisphere winter. The market pressures followed military strikes against Saudi Arabia by Yemen's Iran-backed Houthi movement, which aggravated existing worries regarding tight global energy supplies.
Simultaneously, energy markets were roiled by skepticism surrounding claims made by US President Donald Trump. On Sunday, President Trump asserted that an "energy ceasefire" deal had been reached in the war between Russia and Ukraine. This statement followed his administration's recent announcements regarding the lifting of sanctions and a deal to acquire diesel from Russia.
In-depth summary · AI, neutral