Oil prices rise amid Gulf storm and Houthi attacks
Oil prices rose slightly for the second consecutive day, as concerns about disruptions to production and refining in the United States due to a storm in the Gulf of Mexico, along with escalating Houthi attacks on Saudi Arabia, increased expectations of turmoil in the oil market. The storm is expected to turn into the first Atlantic hurricane of 2026 within two days, potentially impacting oil and gas facilities that produce about 15% of U.S. crude and 5% of natural gas. At the same time, fears grew over the impact of Houthi attacks on oil supplies, especially as clashes between Saudi Arabia and the Houthis intensify, and with increased oil exports from the Middle East, all while pressures on crude prices persist amid uncertain political solutions.
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