Brent remains near $113 after Houthi attacks
By the AFREEQUE newsroom, based on MyJoyOnline
Brent fell by 21 cents to $112.96 a barrel, while US crude WTI lost 27 cents to $98.12 after a 4% rise. Supply concerns intensified after Houthi attacks on Saudi Arabia, according to Reuters.
Brent fell by 21 cents to $112.96 a barrel on Friday at 00:30 GMT, after rising 4% the previous day following Houthi attacks on Saudi Arabia, the world's largest oil exporter, according to Reuters. The contract remains close to its highest level since 4 May, reached on Thursday.
West Texas Intermediate (WTI), the US benchmark, fell by 27 cents to $98.12. Brent is heading for a third consecutive weekly gain, while WTI is expected to end two weeks of gains and finish the week lower, according to Reuters.
Saudi oil company Saudi Aramco ordered the evacuation of its headquarters in Dhahran, near Bahrain, on Thursday. In Libya, the closure of a valve on the pipeline linking the Hamada and Tahara fields to the port of Zawiya also reduced production from the two fields, the chairman of the National Oil Corporation told Reuters.
The rise came after Brent surpassed $110 on 21 October amid tensions in the Middle East, and then reached $110.11 on 22 October following attacks in Saudi Arabia. Saudi Aramco evacuated its headquarters on 22 October after a Houthi attack.
