Commodities
Houthi Attacks on Saudi Aramco Drive Oil Prices Higher
Oil prices surged on Monday after Yemen’s Houthi rebels announced attacks on key Saudi Aramco facilities. The Iran-backed group claimed to have launched ballistic missiles and drones at sites in Riyadh and the Khurais area, sparking concerns over potential disruptions to oil production in the region.
Brent crude futures rose by 81 cents, or 0.79%, reaching $103.06 per barrel by 2202 GMT. Meanwhile, US West Texas Intermediate crude climbed 46 cents, or 0.50%, to $91.57 per barrel. The attacks heightened fears of supply constraints from the world’s top oil exporter, pushing prices higher.