
Increasing tension in West Asia and allegations of attack by the Houthis pushed oil prices up.
The barrel price of Brent oil rose to $111.66 due to the geopolitical tension in West Asia and the Houthis' claims of attack on Saudi Arabian facilities.
AI-generated summary
The Houthis in Yemen and the coalition forces led by Saudi Arabia have been in conflict for a long time.
The barrel price of Brent oil rose to $111.66 due to the increasing geopolitical tension in West Asia and concerns about energy supply.
The December term barrel price of Brent oil, which rose to $110.70 yesterday, completed the day at $109.55. Continuing its rise on the new day, Brent oil reached the level of 111.66 dollars.
The December term barrel price of West Texas Intermediate (WTI) crude oil was traded at $98.68 in the first hours of the day.
THE HOUTHIS CLAIM AN ATTACK ON OIL FACILITIES IN SAUDI ARABIA
The rise in oil prices was influenced by the statements of the Iranian-backed Houthis in Yemen that they were targeting Saudi Arabia's energy facilities.
Oil prices had tested their highest levels since May yesterday after the Houthis claimed that they were targeting facilities belonging to Saudi Arabia's national oil company, Saudi Aramco.
Iran-backed Houthis in Yemen claimed that they carried out attacks on airports in Saudi Arabia and facilities belonging to Saudi Aramco in the last 48 hours.
Houthi Spokesperson Yahya Seri stated that ballistic missiles, cruise missiles and unmanned aerial vehicles were used in the attacks, and that the actions were carried out in response to Saudi Arabia's attacks on Yemen.
The Saudi Arabian authorities have not yet made a statement regarding the Houthis' claims.
SUPPLY CONCERNS ARE PUSHING OIL PRICES UP
Concerns that the oil production and shipping infrastructure in West Asia could be targeted again have increased supply concerns in global markets.
The expectation that possible conflicts in the region may lead to disruptions in production facilities or oil transportation routes supports the high course of prices.
Statements from the USA and Israel regarding the possibility of a new military operation against Iran were also among the headlines that increased the tension in the markets.
STATEMENT FROM NETANYAHU ON IRAN
Israeli Prime Minister Benjamin Netanyahu published a video on social media about his phone call with US President Donald Trump.
While Netanyahu thanked Trump for his support in the elections to be held in Israel on October 27, he also pointed out possible new attacks against Iran.
Netanyahu: "Donald (in Iran), we have a job to finish. You said it too, and we will finish it together. No one else will do it." he said.
In his previous statement, Trump announced his support for Netanyahu in the elections and gave the message that military operations could be on the agenda again if Iran does not change its stance.
Regarding Iran, Trump said, "If they don't change their ways quickly, we will finish the job soon." he said.
While the statements from the USA and Israel kept the possibility of a new military operation against Iran on the agenda, they also increased concerns that the energy infrastructure and oil shipments in the region could be affected by possible conflicts.
$112.90 IS MONITORED AS RESISTANCE IN BRENT OIL
It is stated that technically, in Brent oil, the $ 112.90 level is followed as resistance and the $ 103.46 level is followed as a support zone.
Brent oil, currently at $111.66, has thus approached the technical resistance level.
AI outlook — possibilities, not facts
Oil prices might test the $112.90 resistance level.
Likely · Within days
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