Arabic version: ارتفاع النفط مع مخاوف من هجمات على السعودية تُلقي بظلالها على تعافي الإمدادات

According to Cnbc, oil prices rose Wednesday as attacks by Yemen’s Iran-backed Houthis on Saudi Arabia heightened concern about crude flows from the Middle East, even while supplies were recovering.

International benchmark Brent crude futures for December delivery gained 0.93% to $101.52 a barrel. U.S. West Texas Intermediate futures for November advanced 0.81% to $90.16 per barrel.

Oil pumped through Saudi Arabia’s East-West Pipeline had reached 5.8 million barrels as of Tuesday morning, Saudi Energy Minister Prince Abdulaziz bin Salman said. But the prospect of further disruptions in the region continued to weigh on market sentiment.

Saudi Arabia’s aviation authority reportedly said Tuesday that airports in Jazan and Najran were targeted in two attacks, as hostilities between the kingdom and Yemen’s Iran-backed Houthis grew. Traders were also concerned by stepped-up attacks on tankers transiting the Strait of Hormuz, which threaten the fragile rebound in oil exports through the crucial waterway.

Naeem Aslam, chief investment officer of Zaye Capital Markets, said oil remained “caught between improving physical supply and persistent geopolitical risk.” Samer Hasn, senior market analyst at XS.com, said the Houthis’ ability to target oil facilities hundreds of kilometers from the border kept the risk of a renewed large-scale crude supply disruption “present and high.”