CRUDE WRAP: WTI (Z6) SETTLES USD 2.32 HIGHER AT 99.47/BBL; BRENT (Z6) SETTLES USD 4.35 HIGHER AT USD 113.17/BBL

The crude complex saw notable gains on Thursday amid renewed Houthi attacks on Saudi Arabia, which fuelled escalation worries in the region. On that, the Houthis said they attacked the Defence Ministry in Riyadh and an Aramco facility in Yanbu, albeit with no Saudi confirmation. However, following these reports, Aramco reportedly instructed staff to evacuate its Dhahran HQ and work from home. Along similar lines, the US ordered non-essential diplomatic staff and their families to leave Saudi Arabia. Overall, the Middle East situation remains very fragile as the IRGC Navy stated four vessels transferring oil cargoes were struck in the Persian Gulf, while three other vessels hit sea mines yesterday west of the Strait of Hormuz, warning the US that efforts to encourage passage could result in strikes on US bases. WTI and Brent hit peaks of USD 100.17/bbl and USD 113.40/bbl, respectively, against earlier troughs of USD 97.72/bbl and USD 109.81/bbl.