FX.co ★ Oil Edges Higher on Saudi Airport Attack

Crude oil prices climbed above $92 per barrel on Monday, marking a third straight session of gains as renewed Houthi attacks on Saudi Arabia’s main airport intensified concerns over a broader regional conflict and deeper disruptions to energy supplies. Riyadh’s King Khalid International Airport was hit again on Sunday by Iran-backed Houthi militants, just one day after an earlier strike killed 12 people and injured more than 300, in what has become Saudi Arabia’s deadliest single incident since the Iran war began. Over the weekend, a drone also struck an oil tanker near the Sohar anchorage off Oman, just outside the Strait of Hormuz, highlighting persistently high supply risks in a key transit corridor. In a separate development, US President Donald Trump said Russia and Ukraine had agreed to an “energy ceasefire” set to take effect immediately. In the United States, the Department of Energy approved an emergency exchange of up to 4 million barrels of crude from the Strategic Petroleum Reserve in an effort to ease supply disruptions caused by Hurricane Isaias.