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      US hurricane threat and Houthi attacks lift oil prices

      • Gulf of Mexico production at risk
      • Brent crude rises 1% to $101
      • Missiles target Saudi airports

      The first Atlantic hurricane of 2026 was expected to hit oil and gas production facilities in the US, while Houthi attacks on Saudi Arabia added to market supply risks.

      Tropical Depression Nine is expected to affect offshore areas in the Gulf of Mexico that produce 15 percent of US crude oil and 5 percent of the country’s natural gas.

      Brent crude futures rose 0.82 percent to $101.4 a barrel by 03:00 GMT, while US West Texas Intermediate (WTI) crude gained 0.79 percent to $90.15.

      A spokesperson for Yemeni government forces, Major General Turki Al-Malki, said Saudi Arabia had intercepted and destroyed ballistic missiles launched by the Houthi militia north of Riyadh and Khamis Mushait on Wednesday morning, the Saudi Press Agency reported.

      He said the coalition was tracking the launch platform in Sana’a, which is controlled by the Houthis, using its intelligence systems and would destroy it.

      King Abdullah bin Abdulaziz International Airport in Jazan and Najran International Airport were targeted on Monday evening, a Saudi aviation regulator confirmed in a social media post on Tuesday.

      Saudi energy minister Prince Abdulaziz bin Salman said yesterday at a forum in Bahrain that oil pumped through the key East-West Pipeline has reached 5.8 million barrels per day.

      Further reading:

      The 1,200km pipeline links the kingdom’s major oil-producing fields in the east with the Red Sea port of Yanbu.

      Meanwhile, US Central Command said in a social media post on Tuesday that it had redirected 130 commercial vessels while enforcing the ongoing US naval blockade against Iran.

      GCC stock markets closed mixed on Tuesday.

      Qatar’s benchmark index fell 0.3 percent, while Abu Dhabi’s index declined 0.2 percent.

      Saudi Arabia’s TASI rose 1.1 percent, supported by a nearly 1 percent gain in Saudi Aramco shares. Oman’s market also closed 0.8 percent higher.

      Dubai and Bahrain stock markets closed flat.


      Source: AGBI
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