Jakarta, ThedailyID — Global oil prices climbed on Friday, October 30, as escalating tensions in the Middle East raised concerns over potential supply disruptions following reported Houthi attacks on key energy facilities in Saudi Arabia.
Brent crude futures rose 86 cents, or 0.75%, to US$115.74 per barrel at 01:22 GMT. Meanwhile, US West Texas Intermediate (WTI) crude gained 72 cents, or 0.71%, to US$102.72 per barrel, according to Reuters.
On a monthly basis, Brent was heading toward a gain of nearly 14%, while WTI was on track to rise approximately 15%. WTI was also expected to close above US$100 per barrel for the first time since April.
The price increases followed claims by Yemen’s Houthi movement on Thursday that it had attacked several locations in Saudi Arabia, including the Ras Tanura refinery, the Rabigh refinery and an Aramco facility in Abqaiq.
Separately, the Saudi-led coalition said it had intercepted a cruise missile launched by the Houthis toward the kingdom’s western region.
Saul Kavonic, head of energy research at MST Marquee, said continued military activity around the Strait of Hormuz and uncertainty over diplomatic efforts were keeping oil prices elevated.
Meanwhile, US President Donald Trump said Vice President JD Vance had contacted Iran to help facilitate medical supplies. Iranian media outlet Tasnim also reported receiving a letter from Vance, although Tehran had yet to respond.
Adding to market concerns, Iran’s Revolutionary Guard claimed that three oil tankers had struck naval mines, exploded and caught fire after attempting to use an unauthorized route south of the Strait of Hormuz.
