Brent Closes Above $106 as Attacks Threaten Oil Flows
Tanker strikes and attacks on Saudi infrastructure added to supply concerns, while Brent futures later traded lower in Thursday’s session.
Key takeaways
- Brent settled above $106 a barrel after Houthi strikes across Saudi Arabia.
- As of 02:32 UTC Thursday, Brent futures were down 1.45% from the previous close.
Brent crude settled above $106 a barrel Wednesday after Houthi strikes across Saudi Arabia, including an attack that damaged Saudi Aramco’s headquarters. West Texas Intermediate closed 1% higher.
Iranian attacks on tankers in the Strait of Hormuz have added to concerns about Gulf oil supplies. The Business Times also reported tit-for-tat Russian and Ukrainian strikes on energy infrastructure.
Brent futures later traded at $104.52, down 1.45% from the previous close, as of 02:32 UTC Thursday. Energy researcher Emily Ashford of Standard Chartered said recent events show that recovering oil flows do not necessarily mean supplies are secure.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
