Houthi Attack on Saudi Aramco Facilities Drives Oil Prices Higher

International oil prices climbed after Yemen's Houthi rebels claimed responsibility for an attack on Saudi Aramco facilities. The Iranian-backed group said it targeted the state oil company's sites in Riyadh and the Khurais area with ballistic missiles and drones.

The attack sparked concerns over potential disruptions to Saudi Arabia's oil production, a key factor in the price increase. Brent crude futures rose by 81 cents, or 0.79%, to $103.06 per barrel, while U.S. West Texas Intermediate crude futures gained 46 cents, or 0.50%, to $91.57 per barrel.

Khurais, one of Saudi Arabia's primary oil-producing regions, was among the identified targets. However, it remained unclear whether the attack caused any actual damage or impacted crude production.