Oil rises as Trump comments roil energy markets
Business
Finance
October 12, 2026
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LONDON, United Kingdom (AFP) — The Brent oil price reached nearly $107 a barrel Monday after Yemen’s Iran-backed Houthi movement launched strikes on Saudi Arabia, heightening worries about tight global supplies heading into the northern hemisphere winter.
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.
After a mixed showing for stocks across Asia, Europe’s main indices rose with the car sector lifted by a deal to limit Chinese imports of hybrids as part of an effort to avert a trade war.
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