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Oil Rises After Houthis Attack Saudi Aramco Facilities in Riyadh and Khurais

Crude oil benchmarks moved higher after Yemen's Houthi rebels launched ballistic missiles and armed drones targeting Saudi Aramco facilities in Riyadh and the Khurais area. Brent crude futures rose 81 cents, or 0.79%, to $103.06 a barrel, while West Texas Intermediate climbed 46 cents, or 0.50%, to $91.57 a barrel. The strikes follow earlier Houthi claims of attacks in Riyadh and Yanbu. A witness previously reported smoke and fire near a Riyadh installation, while Saudi authorities and Aramco did not immediately confirm the attacks or publish damage reports.

Category

UK Brent Oil

Sentiment

Bullish

Event

Geopolitics supply

Reading time

1 min