Oil rises amid growing Mideast tensions between Iran-backed Houthis and Saudi Arabia

Oil rises Wednesday, amid worries over supply disruptions as tensions continue to escalate in the Middle East with fighting between Iran-backed Houthis and Saudi Arabia. Futures for international benchmark Brent crude for December delivery gained 1.24% at $107.02 a barrel. U.S. West Texas Intermediate futures for November advanced 1.18% at $95.25 per barrel. Fighting between Saudi Arabia and Iran-backed Houthis continued to escalate, following a deadly attack on Riyadh's main airport by Tehran-backed Houthis in Yemen. According to Al Jazeera, Houthi energy terminals and fuel reserves in Yemen were struck by a Saudi-led coalition, though a spokesperson said that precautions were taken to avoid "collateral damage on civilians.