Oil rises after attacks in Saudi Arabia and some U.S. diplomats ordered to leave
Oil prices rose after attacks attributed to the Houthis in Saudi Arabia and U.S. orders for some diplomats and their families to leave certain missions, while U.S. crude inventories fell by 3.06 million barrels.
Oil prices rose on Thursday amid attacks attributed to the Houthis in Saudi Arabia that raised concerns about the security of energy supplies in the region, coinciding with U.S. orders for some diplomats and their family members to leave missions in the kingdom.
Brent futures climbed $1.29, or 1.2%, to $110.11 a barrel, while U.S. West Texas Intermediate rose $0.97, or 1%, to $98.12 a barrel.
The price moves followed attacks blamed on the Houthis, including a drone strike on a Saudi oil field that killed two people, and another attack on Dammam airport that killed one person and wounded eight others.
Concerns increased about risks to oil shipping after data from Kpler showed at least 18 attacks on ships in the past two weeks, with warnings that strikes on oil tankers may be spreading beyond the Strait of Hormuz.
On the supply side, the U.S. Energy Information Administration said U.S. crude inventories fell last week by 3.06 million barrels to 412.5 million barrels, exceeding analysts' expectations for a 820,000-barrel draw.
