Brent lifts above $99 as Houthis strike multiple Saudi targets

Firstly, apologies for the lack of updates since before the European opening. That was due to circumstances beyond our control. There was no oil trading in the US yesterday and last night, owing to the Labour Day holiday, but had there been a NYMEX settlement price, then it would have likely been higher. Irrespective of that, oil prices have risen further again today and not so long ago Brent crude extended the rise above $99 per barrel. 

The driver behind the further gain came from an announcement from the Houthi rebels regarding what has been a series of further strikes across multiple Saudi Arabian oil facilities today. According to the reports, the Houthis were supposed to make an announcement at 6.30am GMT regarding their military operations in the Kingdom. Well, that has just emerged and in truth it adds little to what we already know. Brent has reached as high as $99.18 so far. It is currently just below that high, trading right now at $99.12
 

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