Brent crude rises above $106 a barrel after Houthi attacks on Saudi facilities

Brent crude futures topped $106 a barrel on Thursday following claims by Yemen’s Iran‑aligned Houthi rebels that they had successfully struck Saudi Arabian oil installations.

The Houthi group said it launched missile and drone attacks on a “sensitive target” in Riyadh and on Saudi Aramco facilities in the Red Sea city of Yanbu, stating that both operations achieved their objectives. Saudi‑led coalition forces reported intercepting six ballistic missiles fired towards the kingdom, but Saudi authorities have not confirmed any damage or casualties.

Brent, the benchmark for global oil prices, rose more than 3 percent, with November futures ending the day above $106.50 a barrel after briefly exceeding $108. Prices eased slightly on Friday morning in Asian trading, standing at $105.77 a barrel at 02:00 GMT.

Aramco, which supplies roughly 10 percent of global oil demand, did not comment outside regular business hours. The price surge comes amid heightened concerns over supply disruptions linked to the US‑Israel war on Iran and ongoing diplomatic talks between the US and Iran at the UN General Assembly.

Market analysts noted that oil is likely to remain above $100 a barrel while the conflict persists, citing widening global inventory gaps and continued vulnerability of critical supply routes.

Source: Al Jazeera. Photo: Tom Fisk / Pexels.