Oil prices rise as attacks on Saudi Arabia overshadow Trump's Russian supply announcements

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Oil prices have climbed to near two-week highs as attacks on Saudi Arabia overshadow possible further supplies to the market after US President Donald Trump hailed fresh Russian diesel exports and a Russia-Ukraine energy ceasefire, Reuters reports.

Retracing earlier losses, Brent crude futures are up $1.24 or 1.2 per cent, to $106.19 a barrel as of 1124 GMT (4:24pm PKT), their highest since September 29.

US West Texas Intermediate crude is at $92.96 a barrel, up $1.11, or 1.2pc.

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