Trump says Houthis behaving ‘very badly’ as Aramco building hit

• Brent crude rises above $106
• Missile debris injures four in Riyadh
• Two vessels attacked in Hormuz

Intense fighting between Saudi Arabia and the Iran-backed Houthis is threatening oil supplies, outweighing the prospect of additional diesel releases by Russia.

Brent crude futures rose 0.9 percent to $106.7 a barrel by 03:00 GMT on Wednesday, while US West Texas Intermediate crude futures gained almost 1 percent to $95.10.

Prices rose after an attack on a Saudi Aramco building, renewed Houthi threats against the kingdom’s energy infrastructure and a warning to the militia from US President Donald Trump.

An Aramco administrative building in Dhahran, in the Eastern Region, was targeted on Tuesday evening, causing a small fire, the state-run SPA news agency reported.

There were no injuries or fatalities, SPA said. Aramco’s global headquarters are in Dhahran.

In a separate incident, debris from two cruise missiles fired by the Houthis towards Riyadh on Tuesday injured four people and damaged 15 homes, SPA reported.

Riyadh international airport remains closed after Houthi attacks on Saturday and Sunday that killed 13 people.

Houthi spokesperson Yahya Saree said on Tuesday that the group would target Aramco’s headquarters in Dammam, King Khaled International Airport in Riyadh and Aramco’s Riyadh refinery if Saudi Arabia continued its strikes on Sanaa.

Yemen has been divided for more than a decade between areas controlled by the UN-sanctioned government and those held by the Houthis. The country has suffered economic collapse and widespread poverty.

Trump said in a social media post that the Houthis were behaving “very badly”, despite having been “silent for a long time”.

“They’ve emerged again, probably at the behest of Iran, hitting Saudi Arabia, and purposefully trying to drive up oil prices, probably prior to the US elections — Not Nice,” he said, referring to the US mid-term elections.

Further reading:

• Houthi strikes disrupt Saudi Arabia’s ‘fly in’ consultants
• Saudi Arabia expands pipelines to reduce reliance on Hormuz
• Why Iran gains more from an open, dangerous Hormuz

Trump has struck a diesel deal with Russia ahead of the polls in an effort to cut fuel prices. Prices are currently up by an average of more than 40 percent compared with a year ago, according to American Automobile Association data.

The United Kingdom Maritime Trade Operations (UKMTO) reported two attacks on vessels in the Strait of Hormuz on Tuesday.

Tehran urged ships to keep their electronic systems switched on and coordinate with Iran’s armed forces to ensure safe passage.

Elsewhere, Opec cut its forecast for global oil demand in 2026 but expects demand to grow next year, with stockpiles potentially replenished.

The 12-member oil bloc expects diesel demand to grow by 420,000 barrels per day (bpd) next year, after falling by 190,000 bpd in 2026.

Meanwhile, five of the seven Gulf stock exchanges closed higher on Wednesday.

Saudi Arabia’s benchmark index ended a four-day losing streak, rising 0.3 percent.

Dubai, Abu Dhabi, Qatar and Kuwait closed higher. Oman fell 1 percent, while Bahrain ended flat.