Brent closes above $106 as Houthi attack on Saudi targets stokes supply fears

Brent crude for November delivery rose 3.41% to $106.60 on the London futures market after Houthi rebels launched a new attack on military targets in Saudi Arabia, heightening supply concerns. The attack continues an established pattern of Houthi strikes on Saudi infrastructure, but the price move indicates markets are increasingly pricing in a sustained risk premium. The extent of damage and any impact on Saudi oil production remain unconfirmed.