[International Oil Prices] Gains Continue, Nearing $100... Saudi Refinery Facilities Hit

[Financial News]  

International oil prices continued to rise on the 8th (local time), nearing $100 per barrel.
Concerns about supply disruptions intensified as Saudi Arabia and the Houthi rebels in Yemen, backed by Iran, engaged in near-full-scale fighting over control of the Bab-el-Mandeb Strait, the gateway to the Suez Canal. The Houthi rebels also attacked Saudi Aramco oil facilities.
In the Strait of Hormuz, Iran claimed that it had seized a state-of-the-art U.S. military unmanned underwater vehicle and shot down a General Atomics MQ-1 Predator drone. Iran also claimed that a U.S. military missile had attacked an Iranian tanker in waters near Kharg Island.
As both major oil shipping routes descended into unpredictable turmoil, oil prices continued their upward trend.
November-delivery Brent Crude Oil settled at $97.92 per barrel, up 0.95% from the previous session. It rose as high as $99.46 during the session, reaching its highest level since July 24.
October West Texas Intermediate (WTI) crude ended trading at $93.03 per barrel, up 1.69%.

[email protected] Song Kyung-jae Reporter