Oil Prices Swing as Trump’s Russian Diesel Deal Meets Saudi Attack Risks
SINGAPORE — WEB DESK | October 12, 2026
Global oil prices fluctuated on Monday as traders weighed expectations of additional Russian diesel supplies against escalating security concerns in the Middle East, including reported attacks in Saudi Arabia and threats to regional energy transport.
Brent crude and US West Texas Intermediate (WTI) futures initially fell on expectations that additional Russian fuel supplies could ease market tightness. Prices subsequently recovered as geopolitical risks continued to influence trading.
In a later market snapshot reported by Reuters, Brent crude rose 0.7% to $105.41 a barrel, while WTI gained 0.6% to $92.42. Earlier in the session, both benchmarks had recorded declines, highlighting the volatility surrounding competing supply and security signals.
Trump announces additional Russian diesel supplies
US President Donald Trump said Russia would immediately provide more than 300,000 metric tons of diesel to US and global markets, with further supplies expected later.
The announcement raised expectations of increased availability in a market facing fuel-supply pressures. Trump also said Russia and Ukraine had agreed to halt attacks on each other’s energy facilities.
However, the proposed energy truce remained uncertain. Ukrainian officials indicated that details still needed clarification, while Russia’s position was not fully established in the available reporting.
Analysts also questioned how quickly additional Russian diesel could reach international markets, given damage to Russian refining infrastructure and restrictions affecting exports.
Saudi attacks keep supply concerns alive
Market sentiment remained sensitive to security developments in the Middle East. Reports of Houthi-claimed attacks involving Riyadh airport and continuing threats to commercial shipping added to concerns about regional stability.
Reports of attacks on tankers around the Gulf and nearby shipping routes have heightened attention to the security of energy transportation. Any sustained disruption to crude exports or tanker movements could place upward pressure on oil prices.
These risks have counterbalanced hopes that additional Russian fuel supplies and a possible reduction in attacks on energy infrastructure could ease pressure on energy markets.
Traders monitor competing market signals
The latest price movements reflect a market responding to both potential increases in supply and the possibility of further disruptions. Diesel availability, developments in the Russia-Ukraine conflict, and security conditions across the Middle East remain key factors for traders.
Oil prices may continue to fluctuate as markets assess whether announced supply increases translate into actual deliveries and whether regional security risks intensify or ease.
The reported prices are snapshots from Monday’s trading and should not be treated as final settlement figures.
