Kathmandu. The price of crude oil has reached a record high of $ 113.75 per barrel amid the attack by the Houthi rebels in Saudi Arabia.
Brent crude rose 0.5 percent to $113.75 a barrel on Friday. West Texas Intermediate crude oil rose 0.7 percent to $100.13 a barrel. This is the first time Brent crude oil has risen so much since May 4.
According to Reuters, Saudi Arabia’s state-owned oil company Aramco has ordered the evacuation of its headquarters in Dhahran due to the Houthi rebel attack. Experts from financial institution ING said in a press release, “We are very concerned about the possibility of a new escalation of oil and gas market tensions. Because such a situation could further affect oil supply.” ’
On the other hand, the oil pipeline from the Hamada and Tihara oil fields in Libya to the port of Zavia has also been blocked. As a result, production has decreased. – Agency
