Crude oil closes mixed following new Houthi attacks on Saudi targets

Crude oil futures closed mixed on Monday following fresh strikes by Yemen's Iran-aligned Houthi forces against Saudi energy, airport, and military targets. Seeking Alpha Markets and Economies.com both reported that the attacks targeted Saudi facilities including airports and Saudi Aramco sites. Seeking Alpha Markets and Seeking Alpha reported that December delivery Brent crude settled lower at $109.55 per barrel, while Economies.com noted that Brent topped $109 after the attacks were announced. [1][4][5]

Seeking Alpha Markets reported that the Houthis also claimed an attack against a military training camp inside Yemen. BigGo Finance noted that global crude prices diverged as US President Donald Trump eased sanctions on Russian oil. Meanwhile, Quantum Commodity Intelligence reported that Egypt has pledged support to Saudi Arabia to fight the Houthi forces. [1][2][3]

The Houthis expanded their control in northern Yemen during rebellions between 2004 and 2010 before capturing the capital city of Sanaa in September 2014. They eventually gained control of large parts of western Yemen, including key ports and major population centers, making them a central faction in the ongoing Yemeni Civil War. [6]

The latest incidents follow a recent strike on the international airport in Riyadh, as FTMQ Business reported earlier. That earlier strike killed 12 people and injured more than 300, marking the deadliest attack in a Gulf Arab state since the start of the Iran war. As FTMQ Business reported earlier, global oil markets have faced volatility, with Brent crude previously dropping to around $103.87 per barrel after President Trump pledged not to attack Iran before the November midterm elections. [7][8]