Crude holds near $110 per barrel as Middle East tensions keep supply concerns alive

Brent crude hovers near $110 per barrel Oil prices hovered near $110 a barrel on Tuesday as traders assessed the impact of Washington’s decision to ease some restrictions on Russian energy exports, while fresh attacks claimed by Yemen’s Houthis against Saudi targets added to concerns over potential supply disruptions in the Middle East.WTI crude was trading at $98.72, up 18 cents, or 0.18%, while Brent crude stood at $109.70, gaining 16 cents, or 0.15%. Brent had climbed to $110.70 a barrel in the previous session, its highest level since May 20.The market was weighing the possibility of additional Russian oil and fuel supplies following an executive order issued by US President Donald Trump on Friday night. The order waived key Russia-related US sanctions and tariffs, including duties on Russian goods and penalties for purchasing the country’s oil and gas. However, Trump said on Saturday that he had yet to announce a final decision, while Secretary of State Marco Rubio said officials needed more time to assess the situation.Russia’s crude oil production rose by 65,000 barrels per day in September to 8.43 million barrels per day, according to the International Energy Agency last we...