Brent tops $111 after Saudi attacks stoke supply fears

Brent crude futures surged past $111 per barrel on Thursday, rising 2.28% to $111.30, while US WTI crude gained 2.17% to $99.26, following fresh attacks on Saudi Arabia's energy infrastructure that stoked global supply fears. The rally was driven by renewed Houthi drone strikes, including an attack on a Saudi oil field that killed two people and a strike on a Dammam airport that killed one and wounded eight. US crude inventories also fell by 3.06 million barrels, far exceeding the 820,000-barrel draw expected by analysts. The escalation follows an October 13 attack on Saudi Aramco's headquarters and threats to continue targeting Saudi airports and facilities. Washington has withdrawn family members of US diplomatic personnel from the region. Higher prices could pressure India's import bill, rupee, and inflation, while impacting fuel-intensive industries.