Oil rises as concerns over Houthi attacks on Saudi Arabia eclipse supply recovery

According to CNBC, Brent crude for December delivery gained 0.93% at $101.52 a barrel[1], while U.S. West Texas Intermediate futures for November advanced 0.81% at $90.16 per barrel.[1]IBTimes reports that the rise followed a two-day decline earlier in the week[2], after reports that oil flows through the Strait of Hormuz had recovered and Saudi Arabia cut prices for Asian buyers.[2]CNBC cites Saudi Energy Minister Prince Abdulaziz bin Salman as saying that oil pumped through the East-West Pipeline had reached 5.8 million barrels as of Tuesday morning.[1]According to CNBC, the Saudi aviation authority reportedly said Tuesday that the country's airports in Jazan and Najran were targeted in two attacks.[1] FXStreet reports that a Saudi-led coalition said it had intercepted and destroyed a ballistic missile launched by the Houthis toward Khamis Mushait.[3]FXStreet also reports that Iran has intensified attacks on tankers in the Strait of Hormuz in recent days, with the UK Maritime Trade Operations reporting nine incidents so far this month.[3]TD Securities told FXStreet that "crude oil is being weighed down by increasing flows,"[3] but that the extra barrels are "increasingly being met by both higher demand and Iranian/Houthi hostility."[3]IBTimes reports that Aramco CEO Amin Nasser warned "pressure at both ends of the barrel will intensify" until the Strait of Hormuz fully reopens[2].