Brent Crude Heads for Weekly Gain Amid Houthi Attacks on Saudi Oil Supply
Source Summary
Brent crude was trading at $105.65 per barrel, up from approximately $102 per barrel on Monday, tracking toward a weekly gain driven by security concerns over Middle East oil supply. Houthi attacks have sustained supply-security worries despite reports of a possible U.S.-Iran deal and estimates of oil flows through the Strait of Hormuz. West Texas Intermediate, by contrast, ended the week lower at $93.11 per barrel.
Why it matters
Houthi attacks on Saudi oil infrastructure create supply-security concerns that directly influence crude prices and global energy markets.
What remains uncertain
The outcome of reported U.S.-Iran negotiations and their potential impact on Middle East supply security remain unresolved.
