Sep. 8 at 2:09 AM
Oil prices rose in volatile trading Monday after reports that Houthi rebels struck Saudi Aramco infrastructure in Saudi Arabia near the Yemen border, raising fresh concerns about potential disruptions to regional energy supplies.
West Texas Intermediate for October delivery gained 1.2% to
$92.54 a barrel after briefly reaching
$93, while November Brent rose to
$97.07. The gains came as investors assessed the potential impact of the reported attack alongside broader tensions involving Iran and growing risks to oil production and transportation across the Middle East.
The market is particularly sensitive to threats against Saudi Arabia, one of the world’s largest oil producers, as well as disruptions around strategic shipping routes. Any sustained damage to energy infrastructure or escalation involving regional producers could tighten global supplies and push crude prices significantly higher.
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