CommoditiesMediumUpdated•Originally published 12 October 2026•Updated 12 October 2026•
1 min read
Oil Surges Past $105 Following Saudi Airport Strike and Ukraine Energy Attacks
Key Facts
1Oil prices climbed above $105 per barrel following a deadly strike on a Saudi airport and attacks on Ukrainian energy facilities.
2Ukraine accused Russia of attacking energy infrastructure despite a ceasefire declared by President Trump.
Oil prices climbed above $105 per barrel on Monday following a deadly strike on a Saudi airport and attacks on Ukrainian energy facilities. The New York Post reported that an attack by an Iran-backed group on an international airport in Riyadh killed at least 13 people, heightening market fears over supply stability from the world's leading crude exporter.
Ukraine accused Russia of attacking energy infrastructure despite a ceasefire declared by President Donald Trump. These geopolitical escalations coincide with data showing a decrease in US API crude oil stocks by 2.09 million barrels on October 6, 2026, further supporting the bullish trend in prices amid regional instability.