🔶 An increase of more than three dollars in the price of oil following the attacks of the Houthis on Saudi Arabia.

🔶 An increase of more than three dollars in the price of oil following the attacks of the Houthis on Saudi Arabia.

The price of oil rose by more than three dollars and reached its highest level in the last six months following the Houthi attacks on Saudi Arabia and the growing fear of another disruption in the energy supply from the Middle East.

The price of Brent crude oil on Friday, October 23, rose $3.55 to $116.72 a barrel, the highest closing price since April 29. The price of American crude oil rose by 3 dollars and 80 cents to 103 dollars per barrel.

Brent oil rose by 6% and US crude oil by 2.3%.

Reuters previously reported that Aramco, the Saudi oil company, ordered on Thursday, October 22, to evacuate its headquarters in Dhahran, located on the Persian Gulf coast near Bahrain, as the conflict between Saudi Arabia and the Houthis escalated. At the same time as the increase in oil prices, the Ministry of Climate Change and Environmental Quality of the United Arab Emirates announced that an oil leak from an oil tanker was discovered in the waters near the "Amal Quain" beach. This ministry has not determined the cause of the oil leak and the identity of the oil tanker.

The clashes between the Houthis and the Saudi-led coalition, which supports the internationally recognized government of Yemen, have intensified since last month; When the Houthis, aligned with Iran, advanced towards the Strait of Belmandav. This strait is at the mouth of the Red Sea and is considered one of the strategic shipping passages in the world.

According to data compiled by a Washington-based think tank that has been documenting and monitoring maritime security incidents around the world since 2017, October was the worst month in terms of the number of attacks on commercial ships in the Strait of Hormuz and surrounding waterways. On Friday, October 23, US President Donald Trump announced that the US could end the war with Iran quickly, but at the same time, he stated that it may be better for Washington to let this conflict gradually die down.