Yemen’s Houthi rebels claimed missile and drone attacks on Saudi Arabian targets, including facilities belonging to state-owned energy giant Aramco. The Houthis said the attacks successfully met their objectives. [14] Brent crude rose more than 3% on Thursday, stoking fears of further disruption to an already constrained energy supply. [14] As of Friday morning in Asia, the benchmark remained elevated at $105.77 per barrel. [14]
Reports that the U.S. and Iran are discussing a potential phased deal to reopen the Strait of Hormuz countered the upward price pressure. [12] The negotiations reportedly took place on the sidelines of the UN General Assembly and raised the prospect of increased future oil supply. [12] The news tempered the rally, with Brent crude slipping below $106 per barrel during Friday trading as the market weighed immediate supply threats against the possibility of a longer-term diplomatic resolution. [12]