Oil rose more than 3% intraday on Thursday as escalating Houthi attacks on Saudi Arabia, a separate tanker attack in the Persian Gulf and Hurricane Isaias approaching the U.S. northern Gulf forced wider production shut‑ins. The U.S. Bureau of Ocean Energy Management said by Wednesday morning about 511,619 b/d of Gulf of Mexico oil production—roughly 25.08% of the region’s current output—was shut in; eight production platforms and two drilling rigs had been evacuated and one rig moved out of the

Oil rose more than 3% intraday on Thursday as escalating Houthi attacks on Saudi Arabia, a separate tanker attack in the Persian Gulf and Hurricane Isaias approaching the U.S. northern Gulf forced wider production shut‑ins. The U.S. Bureau of Ocean Energy Management said by Wednesday morning about 511,619 b/d of Gulf of Mexico oil production—roughly 25.08% of the region’s current output—was shut in; eight production platforms and two drilling rigs had been evacuated and one rig moved out of the storm track. About 16.37% of regional natural gas output was also shut in. The NHC said Isaias strengthened into a hurricane Wednesday night and is expected to approach the northern U.S. Gulf Coast on Friday.