Business
Oil rises after Houthis claim attack on Saudi Aramco facilities
After the Iran-aligned Houthi rebels in Yemen claimed to have attacked Saudi Aramco, the kingdom’s state oil corporation, the price of oil increased internationally.
On October 4, Reuters reported that the Houthis claimed to have fired drones and ballistic missiles targeting Aramco installations in the Khurais region and in Riyadh, the Saudi capital.
Prices increased due to worries that Saudi Arabia, one of the main exporters of crude in the Middle East, would experience production disruptions.
Brent crude futures were up 81 cents, or 0.79%, at $103.06 per barrel as of 10:02 p.m. GMT. West Texas Intermediate crude futures in the United States increased by 46 cents, or 0.50%, to $91.57 per barrel.
One of Saudi Arabia’s primary oil-producing regions is Khurais, which the Houthis designated as a target.
Whether the attack actually damaged any infrastructure or interfered with the production of crude oil was not immediately apparent.