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Oil prices jumped back above $104 a barrel late Thursday after Yemen’s Houthi rebels claimed six missile and drone operations against Saudi Arabia, including two oil refineries and an Aramco facility, among the widest sets of targets the group has announced at once in the conflict.
December West Texas Intermediate futures, traded under the code CLZ6, stood at $103.95 a barrel, up $1.95, or 1.9%, on CME Group’s market display last updated at 10:23 p.m. Eastern on October 29, after rising as high as $104.99. CME says its displayed market data is delayed by at least 10 minutes. The contract had settled at $102.00 in the previous session.
The Yemeni Armed Forces said in a statement carried by Yemen’s Saba news agency that they targeted the Ras Tanura refinery with a ballistic missile, the Aramco facility in Abqaiq with a missile, King Khalid International Airport in Riyadh with a salvo of missiles, King Fahd International Airport in Dammam with a drone, the Rabigh oil refinery with a ballistic missile, and a troop headquarters in the Najran region. The claims could not be independently verified, and Saudi Arabia did not confirm any strikes reaching the facilities.
The Saudi-led coalition said air defenses intercepted and destroyed two ballistic missiles launched toward Riyadh, coalition spokesman Maj. Gen. Turki al-Malki said in a statement carried by the Saudi Press Agency, hours after a morning statement reported an interception over the Eastern Region. It was the sixth consecutive day of coalition interception announcements.
JBizNews Desk | New York
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