Brent crude rose about 3 per cent to $112 a barrel on Thursday, its highest level since 18 May, after attacks in Saudi Arabia and on shipping near the Strait of Hormuz raised fears of further supply disruption, The Guardian reports.
Iran-aligned Houthis struck several Saudi targets on Wednesday, killing people at an airport in Dammam and at an oilfield. Iran's Revolutionary Guards said four tankers involved in what they called illegal oil transfers were hit, and three more vessels struck mines west of the strait. Saudi Aramco reportedly told staff to leave its Dhahran headquarters and work from home.
Stock markets fell, with the FTSE 100 down 0.7 per cent and steeper falls in Japan, South Korea and Hong Kong. Oil peaked at $126 in April during the conflict before dropping to $71 in July.
Source: The Guardian
