Search ForexCrunch

Yemen’s Iran-aligned Houthi rebels have targeted oil facilities that belong to Saudi Aramco in Jizan, Saudi Arabia, Al Jazeera reported on Wednesday. 

The group’s own television station, Al Masirah TV, confirmed this report, citing a military spokesman. Aramco has reportedly declined to comment on this development, per Reuters. There is no information on the timeframe for the planned attacks. 

WTI reaction

With the initial reaction, the barrel of West Texas Intermediate spiked to a fresh daily high of $54.35 before erasing its gains. As of writing, the WTI was down 0.15% on the day at $53.87.