Global oil prices climbed by more than $1 a barrel as reported Houthi attacks on Saudi Arabia heightened concerns about escalating regional conflict and potential disruptions to Middle East oil supplies.

Oil prices rose on Thursday as renewed concerns over regional security in the Middle East raised fears of further disruptions to global energy supplies.

Brent crude futures gained $1.93, or 1.8%, to reach $110.75 a barrel, while US West Texas Intermediate (WTI) crude rose $1.43, or 1.5%, to trade at $98.58 a barrel as of 06:42 GMT+2, according to the reported market figures.

The gains followed a mixed performance in the previous trading session. Brent crude ended Wednesday largely unchanged, while WTI fell by 67 cents.

Market concerns have been heightened by reported Houthi attacks on Saudi Arabia, raising fears that the conflict could widen and threaten critical energy infrastructure or shipping routes in the region. Any sustained disruption to oil production or transportation could tighten global supply and put further upward pressure on prices.

The Middle East remains a key region for global energy markets, with any escalation in hostilities capable of influencing crude prices, transportation costs and broader economic conditions.

Traders are expected to continue monitoring developments in the region for signs of further disruption to oil supplies and changes in the balance between global demand and available production.