Oil prices rise as Houthi attacks on Saudi Arabian refinery raise supply worries

Oil prices climbed Wednesday as investors weighed the prospect of a prolonged and widening Middle East conflict after Tehran-backed Houthis attacked Saudi Arabia's largest refinery. International benchmark Brent crude futures rose $1.50, or 1.32%, to $115.59 per barrel, while U.S. West Texas Intermediate crude futures gained $1.47, or 1.47%, to $101.37 per barrel. The Houthis said on Tuesday they had attacked Saudi Arabia's Ras Tanura refinery with a ballistic missile, raising worries of an escalation in the regional conflict. Trump, meanwhile, said that the war with Iran would end on his terms , while insisting that Tehran must be prevented from acquiring nuclear weapons.