Oil Advances As Storm, Saudi Attacks Threaten Supply Arabian Post
Arabian Post Staff -Dubai
Oil prices climbed on Wednesday as traders assessed the risk of supply disruption from a developing Gulf of Mexico storm and escalating Houthi attacks on Saudi Arabia, offsetting signs that more Middle East crude was reaching global markets.Brent crude futures rose 93 cents, or 0.92%, to $101.51 a barrel by 0022 GMT, while US West Texas Intermediate crude gained 82 cents, or 0.92%, to $90.25.
US forecasters said a system forming in the Gulf of Mexico was expected to strengthen into the first Atlantic hurricane of 2026 within two days, putting offshore oil and gas installations and coastal refining infrastructure potentially in its path.
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