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Oil prices rebound after Houthis say they attacked Saudi tanker
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The Express Tribune
PHOTO: REUTERSOil prices rose on Wednesday after Yemen's Iran-aligned Houthi rebels said they attacked a Saudi oil tanker in the Red Sea, denting hopes of a de-escalation in Iran war hostilities that could restore shipping traffic and oil flows in the Middle East.
Brent crude futures were up $1.07, or 1.35%, at $80.43 a barrel by 0734 GMT (1234 PKT).
The Houthis said they had launched a missile attack on a Saudi oil tanker off the coast of Yanbu, a key port for Saudi crude oil exports.
That drove oil prices higher on Wednesday, UBS analyst Giovanni Staunovo said.
That drove down oil prices by 5% on Tuesday, with Brent closing below $80 a barrel for the first time since July 13.