Oil Prices Rise on Saudi Attack
Oil prices climbed about three percent following a Houthi missile attack on Saudi Arabia that raised supply disruption fears. Meanwhile, US and Iranian officials discussed reopening the Strait of Hormuz to ease tensions.
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Brent Crude Oil rose 3.4% to $106.60 a barrel on Thursday, hitting a one-week high after a missile attack on Saudi Arabia sparked supply concerns. The rally followed intercepted strikes by Yemen's Houthi movement against energy infrastructure in the region. Prices later retreated from session highs as negotiations between Iran and the United States advanced.
