US orders non-emergency staff out of Saudi Arabia as Houthi attacks intensify; Brent above $110

LONDON: Crude oil prices stayed high in global markets amid fresh Houthi attacks on Saudi Arabia and rising tension in the region. According to one report, Brent futures rose 17 cents, or 0.15 per cent, to $110.03 a barrel. US West Texas Intermediate rose $1.68, or 1.66 per cent, to $103.09. Earlier, Brent had fallen by more than $3 on profit-taking. According to CNBC, WTI stood at $98.12. According to BigGo Finance, Brent closed up 1.71 per cent at $110.67 and WTI at $98.53.

On Monday, the Houthis claimed they had targeted an Aramco facility in Yanbu, the Shaybah oil field, King Khalid International Airport in Riyadh and Abha Airport. Saudi officials did not initially confirm the claims. Later, according to CNBC, an attack on King Fahd International Airport in Dammam on Wednesday killed at least one person and injured eight. According to the Saudi Press Agency, two people died in a drone attack on the Shaybah oil field, but operations were not affected.

US State Department spokesman Tommy Pigott said on X that non-emergency government employees in Saudi Arabia and their families had been ordered to leave the country, in view of growing attacks by the Iran-backed Houthis on civilian targets. According to Reuters, Washington also intends to recall family members from other missions in the region. According to The Washington Post, Britain has announced that it is sending RAF Typhoon fighter jets to defend Saudi cities and national infrastructure.

US and Israeli forces have drawn up specific plans for fresh attacks on Iran after next month’s midterm elections, envisaging short but intense action. The reported targets include Iran’s energy infrastructure, nuclear facilities and missile and drone stockpiles. According to the report, President Donald Trump has not approved the strikes and has rejected plans for a return to major war several times this year. In response, Iranian officials have threatened to target data centres and undersea internet cables, and have refused any concession on the nuclear programme.

According to Kpler, oil shipments from the Middle East have recovered to near pre-war levels despite disruptions in the Strait of Hormuz. According to Kpler analyst Muyu Xu, China’s crude oil demand is recovering and it holds 1.1 billion barrels of stocks, equal to about 80 days of refinery needs.