Global crude oil prices rose in early Friday trading following renewed Houthi attacks on Saudi energy infrastructure and escalating tensions in the Strait of Hormuz.
Brent crude futures gained 86 cents, or 0.75 per cent, to reach $115.74 per barrel as of 01:22 GMT. Meanwhile, US West Texas Intermediate (WTI) crude rose 72 cents, or 0.71 per cent, to $102.72 per barrel, reports Al Jazeera.
Both benchmarks were on course for a fourth consecutive monthly gain. Brent was heading for an increase of nearly 14 per cent in October, while WTI was set to rise by around 15 per cent.
The price increases followed claims by Yemen’s Houthi forces that they had attacked several Saudi energy installations. The targeted facilities included the Ras Tanura and Rabigh refineries, as well as an Aramco site in Abqaiq.
In a separate development, Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed that three oil tankers had caught fire after hitting sea mines while attempting to navigate an unauthorised route south of the Strait of Hormuz.
