Oil Prices Rise Amid Houthi Attacks on Saudi Arabia
Oil prices climbed due to escalating tensions between Yemen's Iran-backed Houthis and Saudi Arabia, overshadowing a recovery in crude supply from the Middle East. On Wednesday, Brent crude futures rose by 1.17% to $101.76 per barrel, while U.S. West Texas Intermediate (WTI) gained 1.26% at $90.57 per barrel. The Saudi aviation authority reported that airports in Jazan and Najran were targeted in recent attacks, heightening concerns over potential disruptions to oil flows from the region. Analysts noted that while physical supply has improved—reaching 5.8 million barrels via the East-West Pipeline—the geopolitical risks remain high.
Topics: commodity markets Houthis Middle East tensions oil Saudi Arabia
Part of the story Brent crude hits five-month high amid Houthi attacks on Saudi sites and Gulf vessels (7 articles)