Houthi attacks in Saudi Arabia push oil prices up by about 2%, US stocks show mixed performance, and Russia-Ukraine "energy ceasefire" remains uncertain.
Oil prices rose by approximately 2% after Yemen's Houthi rebels launched additional attacks on Saudi Arabia on Monday (October 12), causing multiple explosions in the Saudi capital, Riyadh. This followed an attack on Riyadh airport days earlier that killed at least 18 people. Global stock markets showed mixed performance, with the Dow Jones Industrial Average rising 0.4% to 51,850 points, the Nasdaq Composite falling 0.4% to 27,245 points, and the S&P 500 declining 0.1% to 7,807 points. Saudi Energy Minister Prince Abdulaziz bin Salman stated that recent events are severe and energy security cannot be ignored. Furthermore, US President Donald Trump had previously announced a diesel purchase agreement with Moscow and claimed an "energy ceasefire" between Russia and Ukraine, but Ukrainian President Volodymyr Zelenskyy said Russia was unwilling to accept it. On that day, Russian forces attacked six energy facilities in Ukraine, injuring 33 people. The market is also focusing on US corporate earnings and inflation data to be released this week, with analysts believing that unexpectedly high inflation could increase the likelihood of another Federal Reserve interest rate hike in October.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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