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Futures Movers: Oil pauses for direction as traders monitor U.S.-Saudi tensions

Oil futures edged slightly higher Monday as traders took stock of U.S.-Saudi tensions over the killing of journalist Jamal Khashoggi.

Several U.S. lawmakers from both sides of the aisle called for sanctions on the kingdom over the weekend as Treasury Secretary Steven Mnuchin prepared to visit Saudi Arabia Monday. Mnuchin told reporters that the administration’s relationship with Saudi Arabia was critical to the U.S. plan to thwart Iran’s effort to become the region’s dominant power, according to news reports.

West Texas Intermediate crude for November delivery CLX8, -0.30% rose 2 cents to $69.14 a barrel on the New York Mercantile Exchange.

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