(Bloomberg) — Oil advanced as the war in Ukraine neared the end of its first month, and investors tracked geopolitical tensions in the Middle East.
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West Texas Intermediate rose above $106 a barrel in early trading after two weeks of declines. Turkey said Moscow and Kyiv were moving closer in negotiations to achieve a cease-fire and a diplomatic solution, even as a top Ukrainian aide said Russia has turned to “more destructive artillery” and Moscow demanded the surrender of the besieged city of Mariupol.
In the Middle East, Yemen’s Houthi rebels attacked at least six sites across Saudi Arabia late Saturday and early on Sunday, including some run by state oil giant Saudi Aramco. The Iran-backed group targeted an Aramco fuel depot in Jazan in the southwest of the kingdom and a natural gas plant in the Red Sea city of Yanbu, the official Saudi Press Agency…
