Oil hits near six-month high as Houthi attacks rattle Saudi Arabia

Benchmark crude oil prices surged to a near six-month high on Thursday, breaching the $110-a-barrel mark as Houthi forces targeted Saudi Arabia’s civilian and energy infrastructure, escalating concerns over oil supply disruptions in West Asia.

Brent crude futures for December delivery rose 3.2% from the previous close to $112.35 a barrel on Thursday afternoon, after touching an intraday high of $112.67. US benchmark West Texas Intermediate (WTI) crude futures gained 2.47% to $99.55 a barrel.

Iran-backed Houthi forces targeted King Fahd International Airport in Dammam on Thursday, while Saudi Arabia’s air defences intercepted an attempted drone attack near Saudi Aramco’s Shaybah oil facility.

In a statement, Saudi Arabia’s Energy Ministry said the intercepted attack occurred outside the facility’s perimeter and did not affect operations.

The incident reportedly claimed two lives and injured two people, including an Indian national. The airport attack also killed two people, including an Indian national, while another two Indian nationals were injured