Oil prices rose on Wednesday following reported Houthi attacks on Saudi Aramco facilities and Iranian statements regarding new tactics targeting regional shipping, including a vessel that reportedly sank after striking a mine near the Strait of Hormuz.

While the Saudi energy ministry confirmed a limited fire at an administrative building, broader market dynamics remain mixed, with Gulf oil flows excluding Iran recovering to over 81 percent of prewar levels despite Iranian exports halting due to a U.

S. blockade.