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Oil rises more than 1% after alleged Houthi attack on Saudi refinery

FinanceInternationalRevista ADVFN35 s readAI summary
Image: Revista ADVFN

Oil prices rose more than 1% after Yemen's Houthi movement claimed a missile attack on Saudi Arabia's largest refinery, with capacity of about 550,000 barrels per day. Brent gained 1.2% to $115.24 a barrel and WTI 1.6% to $101.52. Also weighing in were a 2.03 million barrel drop in U.S. crude inventories reported by the API, Sunday's OPEC+ meeting and the possibility of lower Russian exports in November.

In 35 seconds

  • Brent rose 1.2% to $115.24 and WTI 1.6% to $101.52 a barrel.
  • The Houthis claimed a missile hit on Saudi Arabia's largest refinery; Saudi authorities had not immediately confirmed the attack.
  • U.S. crude inventories fell 2.03 million barrels according to the API, against expectations of a 15,000 barrel increase.
Read the full story at Revista ADVFN

IASummary generated by artificial intelligence from a story by Revista ADVFN. It may contain errors: the original source prevails.

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