Oil gains on Saudi supply disruption, Mideast tensions
SINGAPORE: OilNSE -1.08 % prices rose to their highest in two sessions on Monday amid concerns about oil supply disruptions from Saudi Arabia and elevated tensions in Middle East.
Brent crude futures increased to as much as $65.50 a barrel. The front-month contract was at $64.84, up 57 cents, or 0.9% at 0224 GMT.
U.S. West Texas Intermediate (WTI) crude futures were at $58.61 a barrel, up 52 cents, or 0.9%, after earlier hitting a high of $59.39.
Despite efforts by the world’s top oil exporter Saudi Arabia to reassure global markets that it can resume full production by the end of this month after an attack on its largest oil processing facility in mid-September, buyers and traders remained sceptical.
