Oil price spikes after Houthi missiles target Saudi Arabia:
"Saudi Arabia air defence systems intercepted two ballistic missiles fired by Yemen’s Houthi rebels at Riyadh and the southern city of Jizan in attacks that helped drive oil prices to their highest level in more than three year years.
The rockets were the latest in a series of attacks that risk escalating the more than three-year Yemeni conflict. Concerns over the missile launch and rising tension between the US and Russia over an alleged chemical attack in Syria caused Brent crude to rise by more than $2 a barrel to $73.09 on Wednesday. Brent crude, the international benchmark for oil prices, has increased by 9 per cent in the past three days.
Saudi Aramco operates a 400,000-barrel-per-day refinery in Jizan and the state oil company is leading the construction of a new economic zone on the Red Sea coast."
'via Blog this'
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