Brent settles at $116.72 as Houthi attacks jolt Saudi oil flows
Why it matters: The latest strikes widened fears around Hormuz and helped push Brent to its highest close since April.
Oil prices climbed sharply Friday after Iran-aligned Houthi attacks in Saudi Arabia raised fresh concerns about supply disruptions across the Gulf. Brent crude settled up $3.55 at $116.72 a barrel, its highest close since April, while West Texas Intermediate rose $3.80 to $103.27. The Houthis said they targeted Aramco facilities in Yanbu, the Rabigh refinery, pumping stations and airports in Riyadh, Dammam, Najran and Khamis Mushait. Saudi-led coalition forces said they destroyed two ballistic missiles headed toward Yanbu and Taif. The flare-up comes as shipping and export flows through the Strait of Hormuz remain fragile, with markets also tracking a tanker-linked oil spill off Umm Al Quwain in the United Arab Emirates.
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Earlier in this story
- 4 hours agoSaudi Arabia intercepts Houthi missile aimed at Mecca, Medina
- 16 hours agoBrent settles at $116.72 as Houthi attacks jolt Saudi oil flowsreading now