Brent crude was approaching $100 per barrel after Saudi Arabia reported that operations at several energy facilities in the south of the country were suspended after being attacked. The world benchmark was less than $1 away from hitting the three-digit mark, after gaining last week due to the escalation of hostilities in the Middle East and increased purchases from China, the world's largest importer.
The state-run Saudi Press Agency reported that the attacks occurred on Tuesday and left several injured. Iran-backed Houthi militants said they again attacked the Jazan refinery, with capacity to process 400,000 barrels per day, and other facilities that supply the domestic market.
The Houthis are blocking Saudi Arabia's oil flows in response to Riyadh's siege of the Yemeni capital, Sanaa, and have carried out repeated attacks in recent weeks. The campaign against the largest producer in the Organization of the Petroleum Exporting Countries aims to disrupt commodity exports.
