Oil Prices Rise After Houthi Militia Attacks Riyadh

Global oil prices rose after the Houthi militia launched missile and drone attacks targeting Saudi Arabia’s capital Riyadh, adding to concerns over energy supplies amid heightened tensions in the Middle East.

According to Reuters, Brent crude futures rose 81 cents, or 0.78 percent, to $104.68 per barrel, while US West Texas Intermediate (WTI) crude gained 76 cents, or 0.76 percent, to $101.06 per barrel.

The increase came as investors assessed the potential impact of growing regional tensions on oil production, transportation and supply routes.

The Houthi militia said it had targeted sensitive sites in Riyadh with missiles and drones. Saudi authorities said a ballistic missile launched towards the capital was intercepted.

The Houthi militia also said it had targeted an Aramco facility in Yanbu, a major Saudi oil-export hub on the Red Sea coast.

Saudi authorities issued warnings to residents in Riyadh and Al-Kharj amid concerns over further aerial attacks before an all-clear was later issued.

The latest escalation comes against the backdrop of the wider US-Iran conflict, with tensions across the region raising concerns about disruptions to energy infrastructure and key oil-export routes.

The attacks have added another layer of uncertainty to international energy markets at a time when investors are already closely monitoring developments involving Iran, Saudi Arabia, the Strait of Hormuz and other major regional shipping routes.

Rising oil prices could also increase pressure on global fuel markets if regional disruptions persist, particularly if attacks begin affecting major production or transportation infrastructure.