Oil prices today: Brent, WTI rise

Key Points:

• Crude oil prices surged on Monday following a deadly attack by Iran-backed Houthi militants on King Khalid International Airport in Riyadh, with Brent crude rising 2% to $106.81 per barrel and U.S. West Texas Intermediate up 2.1% to $93.73.
• The attack on the Saudi airport resulted in 12 deaths and over 300 injuries, marking a significant escalation in the Yemen conflict involving the Houthis and the Saudi-led coalition.
• Ukrainian President Volodymyr Zelenskyy reported that Russia violated an energy ceasefire by attacking a gas-production facility in Ukraine, highlighting ongoing tensions amid the conflict.
• Prospects for increased Russian energy exports have improved after a deal brokered by former U.S. President Donald Trump, in which Moscow agreed to supply over 4 million tons of diesel to the global market.
• In response to continued drone and missile attacks on Saudi Arabia by the Houthis, Iranian and Saudi foreign ministers held a phone call to discuss regional escalation and efforts to de-escalate tensions.