Oil rises as Saudi Arabia vows resonse to attacks AFP Mon, October 12, 2026 at 4:26 PM EDT 3 min read CL=F +1.44% ^DJI +0.38% ^IXIC -0.44% ^GSPC -0.06% Global crude prices rose on Monday (Brandon Bell) Oil prices rose Monday as Yemen's Iran-backed Houthi movement launched additional strikes on Saudi Arabia, adding to worries about tight global supplies heading into the northern hemisphere winter.
Several powerful explosions rattled the Saudi capital Riyadh on Monday night following a series of Houthi attacks at the Riyadh airport in recent days that have killed at least 18 people.
Oil prices rose about two percent, while global equity markets turned in a mixed performance as investors looked ahead to major US corporate earnings and economic data later in the week.
"We're waiting for a lot of elements," CFRA Research's Sam Stovall said near the end of Monday's session that saw the Dow climb and the Nasdaq retreat.
"Investors are sort of holding their breath waiting for confirmation that the market was justified in setting a new all-time high on the S&P 500," said Stovall, adding this week's inflation data was a particularly important source of interest.
An unexpectedly lofty inflation reading could lift the odds for another Federal Reserve interest rate hike in October, Stovall said.
Saudi Arabia's energy minister acknowledged that the kingdom's infrastructure and resilience had been tested in the aftermath of the latest attacks.
"Energy security can't be taken for granted," Energy Minister Prince Abdulaziz bin Salman told a high-profile conference in Riyadh. "The events of recent weeks are serious, our response must be equally serious."
Doubts surrounding US President Donald Trump's claim of an "energy ceasefire" between Ukraine and Russia, following his surprise announcement of a deal to buy diesel from Moscow, further unsettled investors.
"Oil remains well bid above $100 after strikes on Saudi Arabia's Riyadh airport over the weekend, while efforts to secure a Russia-Ukraine energy truce were muddy," said Neil Wilson, a strategist at Saxo UK.
Russia on Monday refused to say whether an agreement had been reached with Ukraine to halt attacks on energy infrastructure, a day after Trump sowed confusion with his unilateral announcement of an "energy ceasefire."
"It is increasingly evident that Russia is unwilling to accept an energy ceasefire proposed by the United States," Ukrainian President Volodymyr Zelensky said on social media.
"Today alone, the Russians have attacked six energy facilities in Ukraine. Thirty-three people were wounded across the country," he added.
Also in view this week is the start of the corporate earnings season, with US banking giants JP Morgan, Goldman Sachs and Bank of America due to report on Tuesday.
Tech giants will follow later in October and November, with traders keen to get an idea on the outlook for the AI sector as it invests vast sums despite growing concerns over the technology.
Markets are bullish on company results overall, with companies in the S&P 500 expected to report a 24.3 percent jump in earnings per share compared with the third quarter of 2025, according to CFRA.
Brent North Sea crude: UP 1.8 percent at $106.65 per barrel
West Texas intermediate: UP 2.1 percent at $93.74 per barrel
New York - Dow: UP 0.4 percent at 51,850.55 (close)
New York - S&P 500: DOWN 0.1 percent at 7,807.24 (close)
New York - Nasdaq Composite: DOWN 0.4 percent at 27,245.90 (close)
London - FTSE 100: UP 1.0 percent at 10,656.28 (close)
Paris - CAC 40: UP 0.4 percent at 7,832.88 (close)
Frankfurt - DAX: UP 0.8 percent at 25,277.68 (close)
Hong Kong - Hang Seng Index: UP 0.3 percent at 24,271.20 (close)
Shanghai - Composite: DOWN 0.4 percent at 3,797.24 (close)
Euro/dollar: DOWN at $1.1156 from $1.1200 on Friday
