Crude oil futures gain after Houthi attack on Saudi refinery
Brent futures climb to $115.52 a barrel and WTI crude rises to $101.36, while MCX crude oil futures gain up to 1.74% in early trade.
Crude oil futures surged on Wednesday following a Houthi attack on a Saudi refinery. Brent oil futures opened at $115.52, an increase of 1.40 percent, while WTI (West Texas Intermediate) crude futures began at $101.36, up 1.46 percent. November crude futures on MCX rose to ₹9663 from ₹9498, a 1.74 percent gain, and December futures climbed to ₹9546 from ₹9386, a 1.70 percent increase.
The Houthis reportedly struck the Ras Tanura refinery, causing a fire, though Saudi authorities have not yet confirmed this. Earlier, the group targeted pumping stations on the East-West oil pipeline and King Khalid International Airport. Analysts noted that oil prices had already been declining on Tuesday, settling for two straight days.
Brent hovered around $114 a barrel, and the market remained highly sensitive as it awaited further guidance from U.S. President Donald Trump's approach towards Iran.
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