Contracts posted their first weekly gains for the first time considering the last three. Brent rose more than 11.5% and WTI 8.8%.
What happened this day was that Yemen’s Houthis said they launched attacks on Saudi energy facilities and the Saudi-led coalition said the Aramco fuel distribution station in Jeddah had been targeted.
Saudi Arabia said it will not take responsibility for any oil supply shortages on world markets. caused by Houthi attacks on their oil facilities.
The Houthi movement, aligned with Iran and which has been fighting a Saudi-led coalition for seven years, launched missiles at Aramco facilities in Jeddah and drones at the Ras Tanura and Rabigh refineries.said the group’s military spokesman.
“The market, which was already shying away from Russian oil supply, has another thing to worry about with the Houthi attacks that may affect Saudi Arabian production,” said Andrew Lipow, president of Lipow Oil Associates, noting which were becoming more frequent.
With global stockpiles at their lowest point since 2014, analysts said the market remains vulnerable to any supply shock.
At the same time, the administration of US President Joe Biden is considering another release of oil from the Strategic Petroleum Reserve which, if carried out, could be larger than the 30 million-barrel sale earlier this month, one source said.
Source: Ambito
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