Oil Price Today: Brent Crude Hits Five-Month High Above $112 After Houthi Attacks in Saudi Arabia

Saudi Aramco refinery (file photo)

Oil prices surged to a five-month high on Thursday after deadly Houthi attacks in Saudi Arabia stoked fears of wider disruption to energy supplies from the world's top exporting region. Brent crude jumped $3.51, or 3.2%, to $112.33 a barrel — its highest close since May 4 — while US West Texas Intermediate rose $2.14 to $99.29.

The attacks were the most serious in weeks. A drone strike on a Saudi oil field killed two people, and a separate attack on a civilian airport in Dammam left one person dead and eight injured. Saudi Aramco ordered staff to evacuate its headquarters in Dhahran, and Yemen's Iran-aligned Houthis threatened further strikes on Saudi oil facilities and airports. The US State Department is preparing to withdraw diplomatic family members from additional missions in the region, a sign of how seriously Washington views the escalation.

Supply data is tightening the picture too. US crude inventories fell by 3.06 million barrels last week to 412.5 million barrels, far more than analysts expected. Morgan Stanley estimates Middle East crude exports ran at about 17 million barrels per day last week, below the 18 million daily average before the conflict began, according to Kpler data. Refiner Valero posted its highest-ever quarterly profit as Middle East disruptions sent refining margins soaring. In early Asian trading Friday, prices held near the highs, with Brent around $112.96. For drivers and airlines, the rally points to higher fuel costs ahead.

Source: Reuters — read more

Comments

Post a Comment

Popular posts from this blog

Fairbairn's Walk-Off Field Goal Seals Wembley Thriller as Texans Edge Jaguars 34-31

Ka'imi Fairbairn drilled a 49-yard field goal as time expired to give the Houston Texans a dramatic 34-31 victory over the Jacksonville Jaguars at Wembley Stadium on Sunday. It was a fitting end to a wild afternoon in London that began with the referee being carted off injured in the opening seconds and featured Corgi races entertaining the crowd at half-time. Quarterback C.J. Stroud threw for 312 yards and three touchdowns for Houston, while Jacksonville's Trevor Lawrence answered with 306 yards and four scores of his own. The game's standout was two-way star Travis Hunter, who caught a touchdown and intercepted Stroud in the end zone — the first player to score a touchdown and record an interception in the same game since 2002. Jacksonville's Cam Little tied the game at 31-31 with a booming 60-yard field goal with under two minutes left, but Stroud calmly drove Houston into range for Fairbairn's winner. The victory moved the Texans to 2-4, their second straight wi...
Read more

Anthropic IPO: Public S-1 Filing Expected Today Ahead of $2 Trillion Listing

Image
Anthropic, the AI company behind Claude, is set to publicly file its S-1 IPO registration as soon as Friday, October 23, three people familiar with the plans told Yahoo Finance. The filing would start the clock on one of the biggest tech listings ever: a Nasdaq debut targeted for mid-November, with some investors weighing a valuation near $1.5–2 trillion. A draft of the prospectus, reviewed earlier this week by the Wall Street Journal and Reuters, showed the scale of the bet: $16.3 billion in first-half 2026 revenue against a net loss of $80.7 billion — though about $72 billion of that was a non-cash accounting charge tied to convertible notes. Third-quarter revenue hit $16.8 billion with adjusted profitability and positive cash flow, while long-term computing commitments run above $518 billion. Morgan Stanley, Goldman Sachs and JPMorgan are lined up to lead the offering, with the IPO roadshow expected the week of November 9 and trading before Thanksgiving. The filing would make Anthro...
Read more

Netflix Beats Earnings but Slashes Ad Forecast — Stock Tumbles After Hours

Image
Netflix made more money than Wall Street expected last quarter — but investors cared more about where growth is heading, and the streaming giant's stock slipped after hours on Tuesday. The company reported third-quarter revenue of $12.87 billion, up about 12% from a year earlier and in line with forecasts. Earnings per share came in at $0.87, beating the $0.82 analysts expected, while net income surged 44% to $3.66 billion. Operating margin widened to an impressive 34.6% from 28.2% a year ago. But Netflix cut its 2026 advertising revenue forecast to about $2.7 billion from roughly $3 billion, citing a slower-than-expected rollout of its ad products. Its fourth-quarter outlook also disappointed, sending shares down around 4–6% in after-hours trading. The company said it plans to bring its ad-supported plan to 15 additional countries in 2027. With subscriber growth steady and churn improving, the ad business is now the number investors are watching most closely. Source: read more
Read more