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Brent added $1.50 (1.32%) and returned to $115.59 per barrel, WTI rose $1.47 to $101.37. The trigger - a statement by Yemeni Houthis that they hit Ras Tanura, the kingdom's largest oil refinery at 550,000 barrels per day, with a ballistic missile. Riyadh has not confirmed the strike.
By 05:50 Moscow time on Monday, Brent is at $114.60 per barrel versus Friday's close of $116.72 - the highest since April. The market has begun giving back part of the war premium, but oil is still twice as expensive as in February.
On Friday, October 23, at the start of the US session, BTC plunged to $80,988 - the low of the day. At the same time, Brent crude jumped about 3% to $116 per barrel, for the first time since March 19, and US stocks closed the week in the red.
WTI crude oil is rising for the fifth consecutive session and has climbed above $94 per barrel after new attacks in Saudi Arabia. The market is again pricing in heightened risk of supply disruptions in the Middle East, despite rising OPEC+ production.
On Tuesday, October 6, XAU/USD declined to $4,100, the lowest level in about two months. Gold has lost about 12% from its recent peak near $4,696, and the main pressure factor remains the strong dollar and high US bond yields.
WTI recovered intraday from the morning decline from around $88.00 and rose to nearly $91.50. The main driver was China's temporary suspension of oil product exports during the national holidays.
Yemen's Houthis announced new attacks on Saudi Arabia. The oil market reacted almost instantly: prices rose by about 4% during the session.
