Crude oil prices reached their highest levels in nearly two weeks on Monday by climbing nearly $2 a barrel following the fresh attacks on Saudi Arabia and oil tankers near the Strait of Hormuz. The attacks put Middle East supply risks back at the center of the market.
Brent crude futures settled up $1.93, or 1.8%, at $106.65 a barrel, the highest since September 15.
US West Texas Intermediate crude settled at $93.74 a barrel, rising $1.89, or 2% on the New York Mercantile Exchange.
The Iran-aligned Houthis claimed responsibility for a Saturday strike on Riyadh’s international airport that killed 13 people and wounded more than 300. Further attacks happened on Sunday, intensifying conflict that could further hamper crude oil supplies from one of the world’s biggest producers.
Natural gas prices fell on Monday, slipping $0.048 or 1.56% to $3.172 MMBtu.
Most Oklahoma energy stocks had a positive Monday with Empire Petroleum finishing up more than 3%. On the losing side, Stardust Power finished down more than 7% and USA Rare Earth closed more than 6% on the negative side of trading.