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Brent crude futures rise to $113 per barrel.

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22/10/2026 | 10:34 PM

Oil prices rose by 4% at the end of trading on Thursday amid fears of supply shortages as geopolitical tensions escalated.

Further attacks by the Houthi rebels in Yemen on Saudi Arabia raised concerns about a broader escalation of the conflict and further disruptions in supply from the Middle East.

The Houthis launched attacks on several targets on Wednesday, resulting in at least one death and eight injuries at a civilian airport in Dammam, and two deaths in a drone attack on a Saudi oil field.

Oil prices had ended trading on Wednesday with mixed results as investors assessed supply shortage concerns.