Global oil markets faced renewed uncertainty on Monday after deadly attacks on Saudi Arabia's main international airport, fresh tanker incidents near the Strait of Hormuz and overnight airstrikes in Yemen intensified concerns about Middle Eastern energy supplies. However, crude prices fluctuated as investors weighed the regional security risks against a separate US-Russia diesel supply agreement and President Donald Trump's announcement of a proposed Russia-Ukraine energy ceasefire. Deadly Attacks Raise Middle East Tensions Saudi Arabia's King Khalid International Airport in Riyadh suffered repeated attacks over the weekend, with a combined reported toll of 14 deaths and more than 320 injuries. Yemen's Iran-backed Houthi movement claimed responsibility for the attacks. The airport disruption also raised concerns about aviation safety and the possibility of further regional escalation. Separately, overnight airstrikes struck areas of Yemen's capital, Sanaa. Houthi-ru...
Oil is stuck near $100 a barrel, and the weekend made the picture murkier. Brent crude traded around $101.31 on Monday, down 0.92% on the day, even after Yemen's Iran-backed Houthis claimed new missile and drone strikes on Saudi Aramco sites. With US futures slightly lower ahead of the open, investors are asking whether the Red Sea has become the next oil choke point, and what that means for inflation, bond yields and stocks. Market Snapshot: Monday, October 5 (Pre-Market) Indicator Level Move Source Brent Crude $101.31 -0.92% Trading Economics WTI Crude $89.94 -1.28% Trading Economics Brent-WTI Spread $11.37 (Normal: $3-$5) N/A Our Calculation, Modern Diplomacy Murban Crude (Abu Dhabi) About $110 About $8 above Brent Modern Diplomacy Gold $4,137-$4,150 -3% on the week Modern Diplomacy, Stockopedia Bitcoin About $86,000 +0.2% Stockopedia US 10-Year Yield 5.18% (Friday) N/A Modern Diplomacy S&P 500 (Friday Close)...