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The Economic Times
The Economic Times
Business

Oil prices climb as traders weigh Saudi supply risk, Russian diesel flow

Oil Saudi Arabia Russia United States Yemen

Oil prices climbed on Wednesday as traders weighed supply risk from fighting between Yemen's Iran-allied Houthis and Saudi Arabia against the prospect of increased diesel from Russia.

Brent crude futures rose 89 cents, or 0.8%, to $106.58 a barrel by 0030 GMT, while US West Texas Intermediate crude futures gained 80 cents, or 0.9%, to $94.94. Brent fell 0.9% on Tuesday, while WTI rose 0.4%.

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