Business
Oil prices rise after Houthis claim missile attack on Saudi Arabia's Ras Tanura refinery
October 28, 2026 at 03:04 PM
Coverage
3 reports · over 11 hours
Oil futures climbed more than one dollar on Wednesday after Yemen's Houthi group said it had struck Saudi Arabia's largest refinery with a ballistic missile.
- Brent crude futures rose 1.2 percent to $115.24 a barrel, while US West Texas Intermediate climbed 1.6 percent to $101.52.
- The Houthi group announced it had launched a ballistic missile at the Ras Tanura refinery; Saudi authorities have not confirmed the attack.
- Three sources said OPEC+ is likely to keep its output targets for December unchanged at its meeting on Sunday.
- Mohamed Maait, Egypt's former finance minister, said Brent above $115 a barrel poses a major challenge to the state budget, which assumes $75.