Oil jumps 8% this week as Houthi attacks on Saudi Arabia stoke supply fears

economictimes.indiatimes.com —

Oil prices rose Friday, with Brent crude at $114.02 and WTI at $100, after Houthi attacks on Saudi Arabia fueled supply disruption fears, pushing Brent to a five-month high and a third weekly gain. Saudi Aramco evacuated its Dhahran headquarters as clashes intensified near the Bab el-Mandeb shipping chokepoint. Separately, Russia signaled readiness to resume US-mediated talks with Ukraine in November, while sanctions on Russian energy have contributed to higher prices. Goldman Sachs warned oil could reach $120 if Middle East shipping attacks escalate, but fall to $80 with normal exports. The US and Israel reportedly prepared plans for renewed strikes on Iran's energy infrastructure after midterm elections.


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Oil jumps 8% this week as Houthi attacks on Saudi Arabia stoke supply fears | News Minimalist