Oil jumped more than 6% on Thursday as Middle East tensions raised supply
concerns, sending both Brent and WTI futures above $100. November Brent settled
up $6.42, or 6.34%, at $107.63/bbl; October WTI rose $6.43, or 6.69%, to
$102.48/bbl — the highest close since May 19 and the biggest one-day gain in
nearly two months. Sources said Houthi forces took control of Yemen’s Mocha port
on Thursday, a move that could further threaten Red Sea shipping. Recent tanker
attacks in the Gulf have also constrained traffic through the Strait of Hormuz.
Masabuni, head of business development at XS.com, said Houthi strikes on Saudi
energy facilities introduce a new risk vector that could extend disruptions from
Iran and the Strait of Hormuz to regional export routes, production sites and
other energy infrastructure.
