Brent climbs to $107 as Houthi attacks on Saudi Arabia and Gulf shipping tensions lift oil prices
International oil prices moved higher on Tuesday as markets reacted to a fresh round of attacks on Saudi Arabia by Yemen’s Houthi forces and to Iranian actions involving vessels in the Persian Gulf. According to CNBC, November Brent crude futures rose 1.25% to $107.00 a barrel, while October West Texas Intermediate crude futures gained 1.27% to $102.68 a barrel. Pressure on supply routes remained a central focus. On the western side of the Arabian Peninsula, a Saudi-led coalition said Houthi forces launched ballistic missile and drone attacks on Saudi territory on Monday, injuring 13 civilians, according to Al Jazeera. On the eastern side, Saudi Arabia had already shut its East-West pipeline after damage caused by a drone from Iraq, removing a key route used to bypass the Strait of Hormuz. Separately, U.S. Central Command rejected a claim by Iran’s Islamic Revolutionary Guard Corps that the Panama-flagged tanker El Gaia struck a mine in the strait, saying instead that the vessel lost power last month after being hit by an Iranian missile. Komal Sri-Kumar of Sri-Kumar Global Strategies said pipeline disruptions and an escalating tariff war would add to inflation pressure.








