Saudi Aramco has ordered staff to evacuate its headquarters in Dhahran and work remotely, six people with knowledge of the matter told Reuters, as fighting with Yemen’s Houthis intensifies. The reason for the order was unclear, and Aramco did not respond to a request for comment.
Brent crude futures rose to $111.88 a barrel by 1104 GMT on Thursday, up $3.06 or 2.81 percent, after touching $112.55, the highest since May 18. Saudi Arabia’s benchmark index TASI fell 2.5 percent on the day, according to LSEG data. By our market data, Brent spot in Europe closed at $115.22 a barrel on 20 October.
Attacks widen across the kingdom
The Houthis said they had targeted Aramco facilities in Yanbu and the Saudi defence ministry in Riyadh. Saudi authorities did not confirm those strikes. The Saudi-led coalition said it had intercepted drones over Riyadh and Medina.
Earlier in October the Houthis struck the Aramco headquarters, with fire spreading across several floors. The group imposed a naval blockade on the kingdom in mid July.
Truce collapse
Renewed fighting ended the 2022 truce between Saudi Arabia and the Houthis and opened a new front in the US-Israeli war on Iran. Oil prices rose on concern that the conflict would escalate further.
Also Read
On Wednesday evening a Houthi attack on King Fahd International Airport in Dammam killed two people and wounded eight. Saudi Arabia’s General Authority of Civil Aviation said airport operations had resumed.
Data: FRED — St. Louis Fed
