{
  "id": 14333140,
  "title": "Oil prices settle mixed, focus on US-Russia diesel deal, Saudi Yemen attacks",
  "url": "https://urgent.news/2026/10/14/oil-prices-settle-mixed-focus-on-us-russia-diesel-deal-saudi-yemen",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T00:07:18.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/10/1554921/oil-prices-settle-mixed-focus-us-russia-diesel-deal-saudi-yemen"
  },
  "original_language": "en",
  "account": "Oil prices fluctuated on Tuesday amid anticipation of a potential US-Russia diesel deal, while also factoring in attacks in Saudi Arabia and Yemen that may lead to further supply interruptions. Brent futures closed at US$105.69 per barrel, slipping 96 cents, or 0.9 percent, from Monday's peak since September 15. US West Texas Intermediate (WTI) crude futures increased by 40 cents, or 0.4 percent, to settle at US$94.14, marking the highest close for WTI since September 24. WTI futures for calendar year 2027 hit a record high for the 12th consecutive day, trading at US$84 per barrel. On Monday, Brent futures for calendar year 2027 rose to a record high for the fourth straight day, reaching US$90.\n\nRussia's government maintained that the diesel export deal with the US had no direct correlation with Moscow's approach to Ukraine peace discussions. The claim came in response to a Reuters report citing US President Donald Trump's envoys sharing with Ukrainian officials that the diesel export deal aimed to re-engage Russia in talks for a possible peace settlement in Ukraine. As the world's third-largest crude oil producer in 2025, behind the US and Saudi Arabia, Russia's energy exports have been constrained by sanctions since its invasion of Ukraine in 2022. A potential end to the Russia-Ukraine war could facilitate greater Russian energy exports.\n\nThe US diesel market experienced uncertainty regarding the diesel deal with Russia, with US diesel futures trading up around five percent on Tuesday. Diesel prices reached record highs in various global regions due to supply disruptions stemming from Ukraine's attacks on Russian energy infrastructure and Iran's assaults on Middle Eastern energy facilities. Separately, the UK's domestic intelligence chief reported on Tuesday that Russia and Iran were intensifying hybrid warfare actions against the United Kingdom.\n\nIn the Middle East, Yemen's Iran-aligned Houthi rebels reported that Saudi Arabia had launched attacks on the Yemeni capital, Sanaa, on Tuesday. The Saudi-led coalition had previously issued a warning to civilians to avoid an oil depot on the outskirts of the city, highlighting the escalating conflict between the parties. Concerns over the susceptibility of Gulf energy infrastructure and shipping lanes persisted following Iran-aligned Houthi strikes on Riyadh's international airport over the weekend and reported tanker attacks near the Strait of Hormuz. Trump accused Yemen's Houthi militants of deliberately attempting to raise oil prices ahead of the US midterm elections and threatened to never forget their attacks on Saudi Arabia amid the growing regional turmoil fueled by the US conflict with Iran. Notwithstanding ongoing disruptions in strait shipments during the Iran conflict, OPEC+ reported a significant September increase in production, driven by a rise from Saudi Arabia. Approximately 20 percent of global oil supplies traversed the Strait of Hormuz prior to the US and Israel's February attacks on Iran. OPEC+, which comprises OPEC and allies like Russia, lowered its 2026 oil demand growth forecast for a sixth consecutive month and raised its 2027 forecast, citing the necessity for the world to replenish inventories depleted by the Iran war.",
  "summary": "LONDON/SINGAPORE: Oil prices were mixed on Tuesday as hopes the US-Russia diesel deal could free up more supplies from Moscow offset attacks in Saudi Arabia and Yemen that could result in additional supply disruptions.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}