Brent hits $110.11 after attacks in Saudi Arabia
By the AFREEQUE newsroom, based on MyJoyOnline
Oil prices rose on Thursday, with Brent reaching $110.11 a barrel and WTI $98.12, after Houthi attacks in Saudi Arabia. Washington ordered some diplomats and their families to leave the kingdom, while regional tensions threaten supplies, according to Reuters.
Brent crude rose by $1.29, or 1.2%, to $110.11 a barrel on Thursday after further attacks attributed to the Houthis in Saudi Arabia. US West Texas Intermediate crude gained 97 cents, or 1%, to $98.12, according to Reuters.
The Houthis, an Iran-backed Yemeni movement, struck several targets on Wednesday, killing at least one person and injuring eight at a civilian airport in Dammam, and killing two people in a drone attack on a Saudi oilfield. In response to the attacks, the US State Department ordered some diplomats and their family members to leave US missions in the kingdom.
Kpler data records at least 18 attacks on ships over the past two weeks. LSEG analysts estimate that Iran is targeting tankers beyond the Strait of Hormuz, as far as the Gulf of Oman, threatening crude oil shipments and ship-to-ship transfers in the region.
Brent had already topped $110 on 21 October amid tensions in the Middle East. Brent’s rise above $110 was reported the previous day, before the new attacks cited on Thursday.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
