Nymex Overview: Oil Rises on Saudi Aramco Attack, IEA Report

Dow Jones10-15

Crude oil contracts rose moderately around midday Wednesday after Saudi Arabia's Energy Ministry said a building belonging to Saudi Aramco was attacked and following a forecast by the International Energy Agency that the global diesel crunch would drag into 2027.

At around noon ET, the November NYMEX West Texas Intermediate crude contract was up around $1.25 to $95.40/bbl, and December WTI was $1 higher to $94.20/bbl.

London-based December ICE Brent was 50cts higher to $106.20/bbl and January Brent was up 75cts to $103.65/bbl.

Both oil benchmarks are on track to finish higher for a fourth straight session.

November NYMEX USLD was down by 4.05cts to $4.894/gal and December ULSD was 4.3cts lower to $4.7335/gal. November RBOB was up 1.2cts to $3.262/gal and December RBOB was 1.35ct higher to $3.1475/gal.

The IEA said in its monthly report released earlier Wednesday that the agency expects global diesel supplies to remain tight well into next year as Middle East fuel exports struggle to recover despite a recent rebound in crude shipments.

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