Oil Climbs on US Storm Threat, Saudi Attack Risks
Brent and US crude climbed as traders weighed storm risks to Gulf production and refinery operations against rising Middle East supply flows.
- On Wednesday, Brent crude prices climbed above $100 per barrel, driven by supply fears from an approaching Gulf of Mexico storm and escalating tensions between Saudi Arabia and Yemen's Iran-backed Houthis.
- US forecasters expect a storm in the Gulf of Mexico to become the first Atlantic hurricane of 2026 within two days, threatening facilities accounting for 15% of US crude production and 5% of natural gas.
- KCM Trade chief analyst Tim Waterer described the storm as an "unwelcome complication for crude, raising the prospect of production and refining disruptions" when the market faces existing supply pressures.
- Saudi Arabia's East-West pipeline hit 5.8 million barrels a day on Tuesday, while Saudi aviation officials reported two attacks on airports in Jazan and Najran on Monday evening by Iran-backed Houthis.
- Mukesh Sahdev, chief oil analyst at X Analysts in Sydney, warned that refinery outages are "likely to keep the cracks elevated and scarcity will transmit to crude," predicting prices will hold near $100 without de-escalation.
46 Articles
46 Articles
Oil stable as higher MidEast exports offset supply threat
Oil prices were stable today, with Brent futures holding above $100 a barrel, as investors weighed higher Gulf exports against ongoing supply risks from the Middle East conflict and a storm heading for oil-producing regions in the US.
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Oil Holds Above $100 as Middle East Supply Risks Clash With Rising Exports
Oil prices remained above $100 a barrel as recovering Middle East exports offset concerns over attacks and a developing storm threatening U.S. energy infrastructure. Markets ... The post Oil Holds Above $100 as Middle East Supply Risks Clash With Rising Exports first appeared on [your]NEWS.
Oil prices have gone up due to the threat of a storm in the US and attacks by the Houthis Brent and WTI prices have risen due to the threat of a storm for US oil facilities and the Houthi attack on Saudi Arabia.
Oil prices have risen again, influenced by news of attacks in West Asia and weather conditions threatening energy production in the US. The increase in Brent crude oil strengthens expectations of further price hikes for gasoline and diesel in Turkey, while supply risks have once again come to the forefront in global markets.
Oil prices have risen due to fears of supply disruption caused by a storm in the Gulf of Mexico and the Houthi attacks on Saudi Arabia, while gold has declined as the United States Central Meeting is expected.
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