Houthi rebels strike Saudi Aramco infrastructure, causing oil prices to rise in volatile trading

Oil prices rose on Monday following reports that Houthi rebels struck Saudi Aramco infrastructure in Jizan, Saudi Arabia, near the Yemen border. The extent of the damage to the facilities is currently being assessed.

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West Texas Intermediate (WTI) crude oil prices advanced, moving back above the $90 mark. The WTI contract for October delivery reached a high of $93 before settling at $92.17 a barrel. Brent crude's contract for November delivery rose over 1% to $97.36 a barrel. Market reactions were immediate as the news of the strikes revived concerns regarding potential disruptions to Saudi oil supplies. The price movements occurred during a period of volatile trading for the energy market.

Sources

• MarketWatch
  Oil prices climb after reports of Saudi Aramco refinery being hit by Houthi rebels
• tmgm.com
  Saudi Oil facilities hit in fresh strikes, WTI surges above $90

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Paywall and unreadable sources

• Financial Times
  Saudi Aramco oil facilities hit in new strikes
• Newsquawk
  Panama Canal warns of possible transit cuts in further blow to shipping, FT reports
• qcintel.com
  Saudi's Jazan refinery reported hit again