Houthi announcement of attacks in Saudi Arabia revives oil market volatility

The Houthi group said on Monday it carried out several attacks targeting energy facilities, two airports and military targets inside Saudi Arabia, while oil markets saw notable movements influenced by the announcement.

Oil prices jumped by about three dollars on Monday evening, in a reflexive move amid volatile trading after the attack announcement.

Brent crude futures rose slightly by 17 cents, or 0.15%, to $110.03 a barrel, after prices had fallen by more than three dollars earlier in the session as investors took profits following last week's rise to a five-month high.

U.S. West Texas Intermediate rose $1.68, or 1.66%, to $103.09 a barrel in relatively thin trading ahead of the expiration of the nearest contract tomorrow, with the crude set to record its highest settlement since Sept. 15.

The Houthis said the attacks targeted an Aramco site in Yanbu, the Shaybah oilfield, King Khalid International Airport in Riyadh, Abha Airport, in addition to other military targets.

There has been no confirmation from the Saudi side so far, and Reuters was unable to independently verify the reports.