Oil prices up after escalation in Middle East tensions

The report said the weekend attacks on two oil tankers and strikes by Yemen’s Iran-backed Houthi movement on Saudi Arabia fueled investor concerns about future regional oil supply disruptions.

Brent crude prices jumped 76 cents, or 0.73%, to $105.48 a barrel at 7:04 p.m. EDT Sunday. U.S. West Texas Intermediate (WTI) crude futures increased 59 cents, or 0.64%, to $92.44 a barrel.

Houthi fighters claimed responsibility for a missile attack on Riyadh’s international airport Saturday that killed 13 people and wounded more than 300 others.

Saudi police announced another death and further injuries Sunday in a second attack on the airport.

The Federal Aviation Administration (FAA) cautioned U.S. airlines on Sunday to exercise extreme caution flying in or above Saudi airspace, citing increased security threats stemming from the ongoing military conflict and disruptions to navigation systems, Reuters reported.

A notification to airmen (NOTAM) by the FAA, effective through Dec. 10, comes after a series of strikes on Riyadh, the capital of Saudi Arabia, including a new wave over the weekend.”Threats could pose a potential risk to aircraft during all phases of flight, including overflight, arrival and departure,” the FAA said.