Oil tops $105 as attacks on Saudi Arabia and uncertainty over truce unsettle markets

Benchmark oil prices rose above $105 a barrel on Oct.

12 after Yemen’s Houthi movement launched strikes on Saudi Arabia.

The attacks raised concern about global oil supplies as the northern hemisphere heads into winter.

Investors were also unsettled by U.S. President Donald Trump’s claim that Russia and Ukraine had agreed to an energy ceasefire.

Russia declined to confirm that an agreement to halt attacks on energy infrastructure had been reached.

Trump also announced a U.S. deal to buy diesel from Russia, which a market strategist described as too small to change the overall supply picture.

Saudi Arabia’s energy minister said the attacks had tested the kingdom’s infrastructure and resilience.

The strikes marked a sharp escalation in the Yemen war, and uncertainty over supplies helped keep oil prices above $100 a barrel.