Oil prices rose on Monday after Yemen’s Iran-backed Houthis said they had launched ballistic missiles and drones at Saudi Aramco sites in Riyadh and the Khurais area, raising fresh concerns over supplies from the world’s top oil exporter.
Brent crude futures climbed 81 cents or 0.79% to US$103.06 a barrel by 2202 GMT, while US West Texas Intermediate crude gained 46 cents or 0.50% to US$91.57 a barrel.
The attacks come as markets remain sensitive to disruption risks in the Middle East, with any damage to Saudi oil infrastructure potentially tightening global supplies.
Smoke was reported rising from an Aramco refinery south of Riyadh on Saturday following an attack, according to footage reviewed by Reuters.
The latest strikes add to concerns over the security of Saudi Arabia’s oil infrastructure as the wider regional conflict continues to threaten energy flows.
Investors are also watching developments around crude exports and supply routes as geopolitical risks remain elevated.
Reuters
