Oil rises after Houthis claim strike on Saudi refinery

Oil prices rose in Wednesday trading after Houthi spokesman Yahya Saree claimed the group had struck Saudi Arabia’s Ras Tanura refinery with a ballistic missile. Saudi authorities had not confirmed that the refinery was hit, and the reported damage and any disruption to oil loading remained uncertain. Brent crude futures were reported between $115.24 and $115.90 a barrel in Wednesday morning trading, up roughly 1.3% to 1.8% at different observation times. U.S. West Texas Intermediate was between $101.37 and $101.91, up about 1.5% to 2%. The figures reflected market levels as trading progressed, not closing prices. Both benchmarks had fallen nearly 2% on Tuesday before recovering. The Houthis’ claim, made Tuesday, identified Ras Tanura in Saudi Arabia’s Eastern Province. The complex has a reported refining capacity of 550,000 barrels per day and includes an oil shipping terminal on the Gulf. The claim of a direct hit and the group’s assertion that it caused fires had not been independently confirmed by Saudi authorities. Maritime security firm Vanguard said a fire was reported in the Ras Tanura area early Tuesday and had reportedly been contained. It said the extent of damage...