Brent nears $114 as Saudi attacks deepen Middle East oil risk
Why it matters: Brent is up more than 3% this week and U.S. crude is holding near $100 as traders brace for wider supply disruptions.
Oil prices rose Friday, with Brent approaching $114 a barrel and U.S. crude holding near $100, as attacks tied to Yemen's Houthis intensified fears of broader supply disruptions in the Middle East. The latest strikes hit Saudi targets including Yanbu, an oil field and an airport, adding to pressure on markets already rattled by the U.S.-Iran war. Saudi Aramco also evacuated its Dhahran headquarters and told staff to work remotely after an alarm. Traders are watching the Strait of Hormuz closely because crude exports there have recovered to near pre-war levels, making any escalation a direct threat to global flows. Brent was headed for a third straight weekly gain.