Oil prices mixed as US-Russia diesel deal hopes offset Saudi-Yemen attacks
USO•Brent fell 0.6% to $106.06 a barrel while U.S. WTI rose 0.8% to $94.47. Hopes that a U.S.-Russia diesel export deal could free up supplies offset concerns about attacks in Saudi Arabia and Yemen.
1. Oil prices diverge
Brent futures fell 59 cents to $106.06 a barrel at 12:59 p.m. EDT, while U.S. West Texas Intermediate crude futures rose 73 cents to $94.47. WTI was on track to close at its highest since September 24 for a second consecutive day; Brent had closed at its highest since September 15 on Monday.
2. Diesel deal and talks
The Kremlin said it saw no direct link between a deal to export Russian diesel and Moscow’s position on Ukraine peace talks. U.S. President Donald Trump’s envoys reportedly told Ukrainian officials that the deal was part of an effort to draw Russia back into negotiations. Trump said the diesel was for the rest of the world, not the United States, and said the U.S. was still sharing intelligence with Ukraine.
3. Regional supply concerns
Yemen’s Houthis said Saudi Arabia was attacking Sanaa after a Saudi-led coalition warned civilians to avoid an oil depot. Concerns also remained over Gulf energy infrastructure and shipping after reported attacks near Riyadh’s airport and the Strait of Hormuz. OPEC said OPEC+ production rose sharply in September, driven by higher Saudi output; it lowered its 2026 oil-demand growth forecast for a sixth straight month and raised its forecast for the following year.
