Brent Hits $114 as Houthi Attacks Threaten Saudi Energy Infrastructure
Oil traders see a sharp weekly gain as Houthi attacks on Saudi infrastructure and a Libya pipeline shutdown tighten supply.
- Brent crude trades near $114 per barrel today as ongoing Houthi attacks on Saudi Arabia infrastructure and a pipeline shutdown in Libya drive oil prices higher.
- Aramco ordered personnel evacuations from its Dhahran headquarters in the Persian Gulf after Yemeni Houthis demonstrated new long-distance capabilities, expanding beyond Red Sea targets.
- Libya's National Oil Corporation reported a pipeline shutdown that forced production cuts at two fields, further tightening global supplies.
- President Trump is considering fresh strikes on Iran as the United States reinforces its regional military presence, raising escalation fears.
- Analysts at ING revised their fourth-quarter Brent price outlook, stating the previously estimated $80 average per barrel now looks 'unattainable' amid supply tightness.
11 Articles
11 Articles
Today, the price of oil rose on Friday over $114 per barrel, after attacks by Saudis on Saudi Arabia caused fears of further disruptions in the energy supply from the Middle East.
FTSE 100 Live: Stocks in tug of war as oil surges to five-month high
Welcome back to the City AM FTSE 100 liveblog. It’s Friday morning and London’s blue-chip index is set for a flat open as pressures on markets persist. The price of a barrel of oil has surged to $114 per barrel, trading at its highest level in over five months. It follows escalating Houthi attacks on [...]
Brent Hits $114 as Houthi Attacks Threaten Saudi Energy Infrastructure
Crude oil prices were on course to book a sharp weekly gain, with Brent crude on track for gains of about $6 per barrel and WTI registering a much more modest tick higher, from around $99 per barrel on Monday to over $100 earlier today. At the time of writing, Brent crude was trading at $114.00 per barrel, and West Texas Intermediate was changing hands for $100.40 per barrel, as hostilities in the Middle East remain front-page news for oil trade…
Houthi attacks on refineries, airports and Saudi military targets raise tension in the Middle East and lead Brent to exceed $114 per barrel.
Oil prices rose again in Asian trade on Monday as fresh attacks by Yemen's Houthi rebels on Saudi Arabia heightened concerns about global energy supplies. Brent crude, the international benchmark, hit $113.75 a barrel, while U.S. West Texas Intermediate (WTI) crude oil crossed the psychological $100 mark. The gains followed a nearly 4 percent jump on Tuesday that took Brent to its highest level since early May. Investors are watching the situati…
The five-month record for crude oil prices in global markets was broken, and this morning (Friday, November 1), a barrel of Brent crude oil was traded at 113.17 US dollars. Reuters reported that concerns about the spread of war in the Middle East and possible disruptions in oil supply were cited as the main factors behind the price increase. Also […] The post Oil prices rise; five-month record for global markets broken appeared first on Daily Ne…
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