Attacks on Saudi airports near the Yemen border revived supply fears.
A Gulf storm threatened US output, according to FX Empire.
ING described a tug-of-war between improving supply and lingering threats.
Brent traded around $101.49 and WTI around $90.14.
The G7 release of 100 million barrels had been announced earlier.
Brent traded at about $101.49 a barrel and West Texas Intermediate at about $90.14, according to the same report.
Other reports put December Brent at roughly $101.27 to $101.60 during Wednesday trading, according to Qz and IBTimes Australia.
Brent had settled at about $100.32 on Monday, October 5.
Saudi Arabia’s General Authority of Civil Aviation said that attacks hit the airports in Jazan and Najran on Monday evening, October 5.
Three people were wounded in the attacks on the two airports near the Yemen border, according to Al Jazeera and Turkiye Today.
The authority did not say who carried out the attacks.
Jazan is home to a 400,000 barrel a day Aramco refinery, according to OilPrice.com.
The Houthis, a Yemen-based group, have claimed other strikes on Saudi targets, but these claims have not been independently verified in the reports.
Saudi Energy Minister Prince Abdulaziz bin Salman said that flows through the East-West pipeline had recovered to 5.8 million barrels a day.
The minister’s statement countered reports that the pipeline had shut down again, according to OilPrice.com.
Vitol estimates that about 12 million barrels of crude and 2 million barrels of fuels leave the Persian Gulf each day, according to Reuters as cited by OilPrice.com.
Analysts at ING described a tug-of-war between improving regional supply and lingering threats, and said the market will stay nervous about disruptions.
Supertanker rates have been above $1 million a day, with costs also rising for smaller vessels, according to Sparta Commodities as cited by OilPrice.com.
Oil refinery (representative image), Wikimedia Commons, CC BY 2.0
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