Houthi Attacks Drive Oil Prices Above $106

Oil prices surged on Thursday after Yemen's Houthi rebels claimed to have attacked Saudi facilities, including those belonging to state-run energy giant Aramco.

The attacks stoked fears of additional disruption to energy supplies already facing constraints due to the US-Israel war on Iran.

Brent crude, a key benchmark for global oil prices, rose more than 3% and topped $106.50 a barrel.

Tim Waterer, chief market analyst at KCM Trade in Sydney, said that 'relative to the post-war trend, these levels remain elevated and reflect the reality that critical supply routes and facilities are still vulnerable.'