Oil rises Wednesday, amid worries over supply disruptions as tensions continue to escalate in the Middle East with fighting between Iran-backed Houthis and Saudi Arabia.
Futures for international benchmark Brent crude for December delivery gained 1.24% at $107.02 a barrel. U.S. West Texas Intermediate futures for November advanced 1.18% at $95.25 per barrel.
Fighting between Saudi Arabia and Iran-backed Houthis continued to escalate, following a deadly attack on Riyadh's main airport by Tehran-backed Houthis in Yemen.
According to Al Jazeera, Houthi energy terminals and fuel reserves in Yemen were struck by a Saudi-led coalition, though a spokesperson said that precautions were taken to avoid "collateral damage on civilians."
Meanwhile, tensions also continued to simmer between the U.S. and Iran.