Brent Rises Amid Houthi Claims of Strikes on Saudi Oil Facilities

The Brent oil price has risen amid concerns over security of supplies from the Middle East. At the time OilPrice was writing, Brent stood at $105.65 per barrel, a gain compared to the start of the week when it was around $102.

However, U.S. West Texas Intermediate crude fell to $93.11 per barrel from about $98 at the start of the week.

The Houthis in Yemen claimed they had launched a barrage of missiles and drones at targets in Saudi Arabia, including the Red Sea port of Yanbu, which has become the country's main oil export terminal.

Sparta Commodities senior oil market analyst June Goh believes that oil prices may remain above $100 per barrel due to the lack of a clear settlement and a widening gap in global oil inventories.