Global Oil Prices Surge After Houthis Claim Missile Strike on Saudi Refinery

New Delhi: Global crude oil prices rose on Wednesday following reports of a missile strike on Saudi Arabia’s largest oil refinery by Yemen’s Houthi rebels. Brent crude climbed 1.36% to $115.43 per barrel, while US West Texas Intermediate rose to $101.32, raising concerns over potential supply disruptions.

The Houthis claimed responsibility for targeting the refinery, which processes 550,000 barrels of oil daily, although Saudi authorities have not confirmed the attack. Meanwhile, diplomatic efforts continue to ease Middle East tensions, while OPEC+ is expected to maintain its December production targets.