Brent crude hits highest since May on Houthi attacks and supply fears

Brent crude oil prices hit their highest level since May on Thursday, rising 3.08% to $112.17 a barrel, after Houthi attacks in Saudi Arabia fueled fears of Middle East conflict spreading and disrupting oil supplies from a key exporting region. US West Texas Intermediate crude also rose 2.76% to $99.83 a barrel. Attacks on Saudi oil infrastructure, including a deadly drone strike on an oil field, and vessel incidents in the Strait of Hormuz raised supply concerns, though Middle Eastern crude exports remained high at around 17 million barrels per day last week. The US ordered some diplomats to leave Saudi Arabia and other Middle East missions. Libya also faced pipeline disruptions, while the Trump administration offered to loan emergency heating oil reserves. Russia agreed to resume US-mediated peace talks with Ukraine, but analysts expect oil prices to stay high until after US midterm elections.