From The Economic Times · Veer Sharma · · 1m 10s
Oil Prices Rise as Energy Attacks Heighten Supply Fears
Oil prices climb above $110 after drone strikes on Saudi oilfields spark supply concerns.
In brief
Oil prices climb above $110 after drone strikes on Saudi oilfields spark supply concerns. Oil prices rose to $110.18 per barrel as drone attacks on Saudi oilfields heightened supply fears. Originally reported by The Economic Times.
Oil prices rise
Brent crude traded 1.18% higher at $110.18 a barrel on Thursday.
Saudi oilfield drone strike
Houthis struck a Saudi oilfield killing two people in a drone attack.
Civilian casualties
Houthis killed at least one person and injured eight others at a Dammam airport.
Iranian explosions
Explosions were reported in Sirik, southern Iran, on Wednesday.
US diplomatic orders
The US ordered diplomats and family members to leave Saudi missions.
Iranian defense stance
Iranian Foreign Minister Abbas Araqchi said Tehran was prepared to defend itself.
US-Israel strike plans
US and Israel drew up plans for renewed strikes against Iran after US midterms.
Potential targets
Potential targets include Iran's energy infrastructure and nuclear facilities.
Goldman Sachs scenario
Goldman Sachs expects oil prices to rise to $120 if attacks escalate.
The takeaway
Oil prices rose to $110.18 per barrel as drone attacks on Saudi oilfields heightened supply fears.
