World oil prices rose on Wednesday, 21 October, amid expectations of supply disruption in the Middle East. Brent crude futures rose 85 cents, or 0.78 percent, to $109.64 a barrel in the intraday quote at 00:22 GMT. West Texas Intermediate rose 76 cents, or 0.78 percent, to $98.58 a barrel.
The move followed a tanker catching fire after hitting a sea mine south of the Strait of Hormuz. The Iran Revolutionary Guard Corps said the ship had violated Iranian rules. Kpler reported at least 18 attacks on ships within two weeks.
Attacks spread beyond the Strait
LSEG analysts said the attacks had spread beyond the Strait of Hormuz, including threats in the Gulf of Oman. Houthis claimed attacks on Saudi Aramco facilities at Yanbu and the Shaybah field, as well as several Saudi airports.
Oil had dipped in the previous session. Brent settled 76 cents lower, or 0.69 percent, at $108.79 a barrel on Tuesday, after touching $111.99, its highest level in five months.
Market watches US inventories
Iran’s president discussed mediation with Pakistan’s army chief in Teheran on Tuesday. The US government is seeking to raise fuel production by coordinating with refiners in several countries, amid diesel scarcity.
Traders now await US crude inventory data for the week ending 16 October. A Reuters survey of eight analysts expects an average fall of 800,000 barrels.
Related: Brent slips to $104.47 on US tanker sanctions report
