Brent crude futures rose US$1.29, or 1.2 percent, to US$110.11 a barrel at 00.34 GMT on Thursday (22/10). WTI climbed 97 cents, or 1 percent, to US$98.12 a barrel. The moves followed Houthi attacks on targets in Saudi Arabia on Wednesday (21/10).
The United States ordered some diplomats and family members to leave its diplomatic mission in Saudi Arabia. Supply concerns rose as the attacks extended a wider pattern of disruption to shipping and energy infrastructure.
Attacks on Saudi Arabia and shipping
The Houthi group, which is allied with Iran, attacked targets in Saudi Arabia. One person was killed and eight were injured in an attack on a civil airport in Dammam. Two people were killed in a drone attack on an oil field in Saudi Arabia.
Kpler reported at least 18 attacks on vessels in the past two weeks. LSEG analysts warned that Iran was targeting tankers as far as the Gulf of Oman, outside the Strait of Hormuz.
Inventory data and policy response
US crude inventories fell 3.06 million barrels to 412.5 million barrels in the latest week. A Reuters poll had expected a decline of 0.82 million barrels. Distillate inventories rose 1.68 million barrels to 104.3 million barrels, against an analyst forecast of a 1.16 million barrel decline.
The US Department of Energy offered loans from the national heating oil emergency reserve to ease price increases. The offer was linked to supply disruptions tied to the Iran and Ukraine conflicts.
Related: Brent rises above $105 as Houthi attacks hit Saudi Arabia · Brent slips to $109.55 after Houthi claim Saudi strikes
