Oil rises after Houthi strike on Saudi refinery
Houthi forces said they hit Saudi Arabia's biggest oil refinery with a missile, and oil prices rose over 1 percent. Saudi Arabia is the world's second-largest crude producer, so the attacks have revived fears of supply disruption. Higher crude prices can spread into fuel and transport costs over time.
ContextHouthis are an armed group in Yemen that has attacked shipping and Saudi targets in recent years. Saudi Arabia is a major oil exporter, and any attack on its energy sites quickly affects global oil markets.