Oil inches higher, stays near six-month highs on Saudi attacks
NEW YORK — Oil prices inched higher after falling more than $2 a barrel on Monday, as persistent attacks on key producer Saudi Arabia kept investors wary and prices near six-month highs, even as diplomatic efforts to resolve the conflict in the Middle East resumed. Brent crude futures rose 49 cents, or 0.4 percent, to $117.21 at 12:51 p.m. ET (1637 GMT), while U.S. West Texas Intermediate crude…
Oil prices edged higher on Monday, inching closer to six-month highs, as tensions in the Middle East persisted following attacks on Saudi Arabia. Brent crude futures rose 49 cents, or 0.4 percent, to $117.21, while U.S. West Texas Intermediate crude futures fell 35 cents, or 0.34 percent, to $102.92 per barrel. The price movements were influenced by concerns over the escalating tensions in the region, particularly after the Houthis struck pumping stations and Riyadh airport.
Saudi Arabia has responded with intercepting additional missiles and drones, and a Saudi-led coalition claimed to have destroyed three drones targeting the kingdom. The diplomatic efforts to resolve the conflict are ongoing.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Oil inches higher, stays near six-month highs on Saudi attacks koreatimes.co.kr
- Oil prices fall by $2 but remain near six-month highs english.ajel.sa
