Brent crude futures gained $2.06, or 1.9%, to $110.85 a barrel by 1048 GMT

International News via Reuters:

Oil prices jumped by more than $2 on Wednesday after Iran said there was little reason to expect diplomatic progress with the US, leaving the Brent benchmark hovering near five-month highs, with further market support from falling US crude and product inventories.

Brent crude futures gained $2.06, or 1.9%, to $110.85 a barrel by 1048 GMT. US West Texas Intermediate (WTI) crude was up $2.13, or 2.2%, at $99.95.

In the previous session, Brent hit its highest in five months while WTI touched a six-month peak before prices fell back on discussions on mediation efforts in a meeting between Iran’s president and Pakistan’s army chief in Tehran.

On Wednesday, Iran’s Foreign Minister Abbas Araqchi told the Financial Times that Iran was fully prepared to defend itself and President Masoud Pezeshkian told state media the US could not expect dialogue while blockading and threatening Iran.

“Neither of the two geopolitical conflicts underpinning the market’s bullish sentiment has shown any signs of de-escalation,” PVM analysts said, referring to the Middle East and Russia-Ukraine wars.

At least 18 vessel attacks were recorded over the past two weeks, Kpler data showed, while LSEG analysts warned that Iran was targeting tankers well beyond the Strait of Hormuz, reaching into the Gulf of Oman and jeopardising Gulf crude loadings and ship-to-ship transfers supporting regional loadings.

Iran-aligned Houthis on Monday claimed responsibility for attacks on a Saudi Aramco site in Yanbu, the Shaybah oilfield and Saudi Arabia’s Riyadh and Abha airports.

In the US, two Energy Department officials said on Tuesday that they were working with refiners around the world to boost fuel output.

US crude stocks fell by 4.9 million barrels in the week ended October 16, with gasoline and distillate inventories also down, said market sources citing API data. Government inventories data is due at 1430 GMT. [EIA/S]

Reporting by Shadia NasrallaAdditional eporting by Colleen Howe in Beijing and Emily Chow in SingaporeEditing by Kirsten Donovan and David Goodman

The Ebola species behind the outbreak kills about half of those infected and has no approved treatment or vaccine

International News via Reuters:

Nigeria reported its first Ebola case in more than a decade on Tuesday, becoming the fourth African country and the most populous yet to be affected by an outbreak that health officials have described as the fastest-spreading on record.

The Ebola species behind the outbreak kills about half of those infected and has no approved treatment or vaccine. Since the first cases were confirmed in Democratic Republic of Congo in May, the disease has killed 4,646 people. Health officials fear misinformation and funding shortfalls could fuel further spread within the region and across borders.

“Ebola is now affecting three regions of Africa. The situation demands urgent action and political leadership at the highest level,” Africa Centres for Disease Control and Prevention Director General Jean Kaseya said on X on Wednesday.

The Nigerian case involves a Ugandan woman who arrived in Nigeria’s capital Abuja via Addis Ababa on October 5, Odianosen Ehiakhamen of the Nigeria Centre for Disease Control told Arise TV on Tuesday.

She began feeling unwell two days later and sought treatment at a private hospital in Abuja on October 11 with malaria-like symptoms, but her condition did not improve, Ehiakhamen said.

After health officials learned she had recently travelled to Uganda, one of the countries affected by the current outbreak, they tested her for Ebola on October 19. The positive result was confirmed on Tuesday.

Authorities have identified 44 contacts, most of them healthcare workers. They included the patient’s husband, a Swiss national who lives with her in Abuja.

Officials are also tracing passengers who travelled with her but do not believe she was symptomatic during the flight.

Health Minister Muhammad Ali Pate told public broadcaster NTA that the woman was in isolation and receiving treatment.

UGANDA SAYS IT HAS NO ACTIVE EBOLA CASES

Uganda’s health ministry said the woman had travelled to Congo, where more than 9,500 Ebola cases have been recorded across eight provinces.

It was not immediately clear where she had been in Congo. 

“Travel through Uganda does not establish that infection occurred here,” Uganda’s health ministry said, adding that the country has no active Ebola cases.

Uganda reported 20 cases in May and June, mostly imported from Congo, but the World Health Organization declared the country Ebola-free in August.

Earlier this month, Kenya reported its first Ebola case, involving a traveller who arrived from Congo via Uganda. The country has since reported nine cases, all linked to the same patient.

The spread of Ebola to Kenya raised questions about the effectiveness of border screening systems designed to prevent cross-border transmission.

Pate, Nigeria’s health minister, said the country had successfully contained Ebola in 2014 during the West African epidemic, the largest outbreak on record.

He said Nigeria had the systems in place to respond to the new case.

Reporting by Elisha Bala-Gbogbo and Camillus Eboh in Abuja. Additional reporting by MacDonald Dzirutwe in Lagos, Elias Biryabarema in Kampala, Vincent Mumo Nzilani and George Obulutsa in Nairobi, Clement Bonnerot in Dakar. Editing by Robbie Corey-Boulet and Mark Potter