🔊 Oil prices are climbing again after fresh attacks in Saudi Arabia and no diplomatic breakthrough in either the Middle East or Ukraine. Today's Reuters Morning Bid podcast looks at why energy markets remain under pressure

Oil prices are rising again following reported fresh attacks in Saudi Arabia, with no diplomatic progress reported in either the Middle East or Ukraine, according to a Reuters Morning Bid preview. The transmission channel here is supply risk: attacks on Saudi energy infrastructure raise the perceived probability of production or export disruption, which lifts the crude risk premium and feeds into forward curves and refined product prices. Crude benchmarks and energy equities are the most directly exposed, while the absence of a Ukraine settlement keeps a second source of geopolitical risk alive for European gas and broader commodity sentiment. Traders should watch the next OPEC+ production decision and weekly EIA inventory data, since any tightening of spare capacity or inventory draws would amplify the upward pressure on prices already reflected in this headline.

Crude oil (WTI/Brent) reacts in real time to OPEC+ production decisions, EIA weekly inventory reports, geopolitical supply disruptions (Middle East, Russia, Venezuela) and US Strategic Petroleum Reserve announcements. A 5% intraday move on breaking news is not unusual.

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