Oil Prices Soar After Yemen's Houthi Rebels Claim Attacks on Saudi Facilities

Oil prices surged on Thursday following Yemen's Houthi rebels' claims of attacks on Saudi facilities, including those belonging to state-run energy giant Aramco.

Brent crude, a key benchmark for global oil prices, rose over 3% after the attacks sparked concerns about disruptions to already constrained energy supplies due to the US-Israel war on Iran.

The Houthi rebels said they launched missile and drone attacks on a 'sensitive target' in Riyadh and Aramco facilities in Yanbu, with both operations reportedly achieving their objectives successfully.

However, Saudi-led coalition forces claimed they intercepted six ballistic missiles fired by the Houthis towards the kingdom. There is no confirmation from Saudi authorities about damage or casualties.

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