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Oil rises as US orders diplomats to leave Saudi Arabia amid escalating tensions
Reuters • • general
Key Points:
- Oil prices increased on Thursday following Houthi attacks in Saudi Arabia, prompting the US to order some diplomats and family members to leave its missions in the Kingdom.
- Brent crude rose by $1.29 to $110.11 a barrel, while US West Texas Intermediate crude increased by 97 cents to $98.12.
- The Houthis targeted a civilian airport in Dammam and a Saudi oil field, causing casualties, while explosions were also reported in southern Iran with unclear origins.
- Iran warned the US against expecting dialogue amid ongoing blockades and threats, while attacks on shipping in the Gulf region have escalated, threatening crude shipments.
- Separately, Russia and the US agreed to resume peace talks on Ukraine, and US crude stockpiles dropped significantly, with the US offering emergency heating oil loans to address diesel shortages.
