Brent Climbs 1% Above $80 After Houthi Strike Claim on Saudi Tanker
Updated
Updated · CNBC · Aug 5
Brent Climbs 1% Above $80 After Houthi Strike Claim on Saudi Tanker
3 articles · Updated · CNBC · Aug 5
Summary
Brent crude rose 1% to $80.22 a barrel on Wednesday, while U.S. WTI gained 0.46% to $76.12 after Yemen's Houthis said they struck a Saudi tanker in the Red Sea.
The group said it hit the vessel with a missile near Yanbu, a major Saudi crude export port, reviving supply-risk fears just as oil had been retreating on diplomacy hopes.
U.S., Iranian and Omani officials are negotiating an interim Hormuz arrangement under which inbound ships would use Iranian waters and outbound traffic would pass through Omani waters with Tehran's coordination.
Trump said talks ran all day Tuesday and looked positive, while Treasury Secretary Scott Bessent said a deal to reopen the waterway could come this week.
Oil had ended about 6% lower on Tuesday after hopes for a Hormuz reopening improved, following Trump's decision to cancel a planned attack on Iran and pursue fresh negotiations.