Oil prices settle mixed as traders focus on US-Russia diesel deal, Saudi-Yemen attacks
USO•Brent settled down 0.9% at $105.69 a barrel, while U.S. West Texas Intermediate rose 0.4% to $94.14. Traders weighed the potential for more Russian diesel exports against attacks in Saudi Arabia and Yemen that could disrupt supplies.
1. Oil settles mixed
Brent futures settled down 96 cents, or 0.9%, at $105.69 a barrel. U.S. West Texas Intermediate crude rose 40 cents, or 0.4%, to $94.14, its highest close since September 24. WTI futures for calendar 2027 reached a record $84 a barrel for the 12th consecutive day.
2. Diesel deal in focus
The Kremlin said it saw no direct link between a deal to export Russian diesel and Moscow’s stance on Ukraine peace talks. U.S. diesel futures were up about 5% as the market weighed the deal. President Donald Trump said Russian diesel was intended for the rest of the world, not the United States.
3. Supply risks and forecasts
Attacks and reported threats to energy infrastructure and shipping in Saudi Arabia, Yemen and near the Strait of Hormuz kept supply risks in focus. OPEC said OPEC+ production rose sharply in September, driven by higher Saudi output. OPEC lowered its 2026 oil demand growth forecast for a sixth straight month and raised its forecast for the following year, citing the need to rebuild inventories depleted by the Iran war.
