Oil edged higher after Houthi rebels said they fired missiles at Saudi Arabia's
largest refinery. Saudi authorities have not confirmed the attack or reported
any damage or operational disruption. The move reflected a renewed supply-risk
premium despite forecasts for a modest rise in U.S. crude inventories. Traders
also flagged elevated geopolitical risk amid speculation Israel could resume
strikes on Iran after Tuesday's election; polls show Netanyahu's bloc far short
of a 61-seat majority in most surveys, with official results due Nov. 4. The key
market question is whether the strike causes lasting refining-capacity loss;
until Saudi confirms damage, price moves reflect headline risk rather than
confirmed supply outages, leaving crude sensitive to further regional
developments, Sunday’s OPEC+ meeting and this week’s U.S. inventory data.
