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Oil prices climb as traders weigh Saudi supply risk, Russian diesel flow
TOKYO: Oil prices climbed on Wednesday as traders weighed supply risk from fighting between Yemen’s 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%. “Supply concern stemming from conflict between the Houthis and Saudi Arabia is driving prices higher,” said chief strategist Hiroyuki Kikukawa at Nissan Securities Investment, a unit of Nissan Securities. “...
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