Oil Pulls Back After Saudi Airport Attacks as Nvidia Holds AI Talks

Oil prices pulled back after an early spike linked to attacks on Saudi airports and oil tankers, while Nvidia weighed an acquisition or additional investment in artificial-intelligence startup Reflection AI.

Brent crude reached $105.48 a barrel before falling to $103.50. West Texas Intermediate climbed to $92.44 before retreating to $90.73. The move came as markets assessed possible disruptions to Middle East energy shipments and higher shipping insurance costs.

An attack on Riyadh International Airport Saturday killed 13 people and injured more than 300. A second attack on a terminal Sunday killed one person and injured 11 others. Dammam airport also reported an attack. Houthi forces claimed responsibility for the Riyadh attack, while President Donald Trump said the United States was considering strikes against the group.

The Treasury authorized transactions involving Russian-origin diesel through April 7, 2027, adding to expectations that additional supply could reach markets. Trump also said Russia and Ukraine had agreed to stop attacking energy facilities, but Russia had not confirmed the arrangement and Ukrainian President Volodymyr Zelenskyy said attacks were continuing.

Nvidia’s discussions with Reflection AI include a possible acquisition or further investment. Reflection AI recently launched Beam, an open-weight model designed for coding and agent tasks, and Nvidia has previously invested in the company.

JPMorgan Chase reports quarterly results Tuesday, followed by U.S. September CPI data and ASML results Wednesday. Taiwan Semiconductor Manufacturing Co. is scheduled to hold its quarterly briefing Thursday.