Reported Riyadh oil facility attack and ship incident near Hormuz raise supply concerns

On October 4, a market commentator said Houthis reportedly attacked an Aramco facility in Riyadh and another ship was hit near the Strait of Hormuz. The commentator warned that those incidents, alongside Zelensky’s stated plan to increase attacks on Russian refineries, could drive up oil prices and bond yields and unsettle markets. A separate market digest said Iran continued to keep Hormuz closed and OPEC+ left November quotas unchanged.