Oil tops $110 as Houthi drone strike near Saudi Shaybah field rattles markets
Oil extended gains above $110 a barrel on Thursday after a Houthi drone attack near Saudi Aramco's Shaybah oilfield heightened concerns over supply disruptions as Yemen's rebels stepped up strikes on the kingdom's energy infrastructure. Brent crude rose 1.7 per cent, or $1.81, to $110.63 a barrel as of 7.36am UAE time. West Texas Intermediate gained 1.4 per cent, or $1.37, to $98.52. Two people…
Oil prices surged past $110 a barrel on Thursday following a Houthi drone strike near Saudi Aramco's Shaybah oilfield, which intensified concerns over potential supply disruptions due to the rebels' increased attacks on the kingdom's energy infrastructure. Brent crude rose by 1.7%, reaching $110.63 a barrel, while West Texas Intermediate gained 1.4%, reaching $98.52.
The attack, which killed two people and injured two others, targeted a processing plant at Shaybah, one of the kingdom's largest oilfields, though operations remained unaffected. The strikes come amid escalating tensions, with Saudi Arabia's East-West pipeline also coming under attack, and Washington ordering non-emergency personnel to leave the country due to Houthi attacks on civilian infrastructure.
Brief written by urgent.news from The National Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
