Oil gains as US storm and Houthi air strikes threaten supply

Oil prices ​climbed on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing ‌regions and attacks by Yemen's Iran-backed Houthis on Saudi Arabia against increased supplies of Middle East crude. Brent futures rose $1.05, or 1.04%, to $101.63 a barrel by 0400 GMT. US West Texas Intermediate (WTI) crude futures rose 80 cents, or 0.89%, to $90.24 a barrel. US forecasters said on Tuesday ​a storm forming in the Gulf of Mexico would become the first Atlantic hurricane of 2026 within two days ​and would likely hit oil and gas producing facilities. The offshore areas in the Gulf in ⁠the storm's path produce 15% of US crude oil and 5% of the country's natural gas. KCM Trade chief analyst ​Tim Waterer said the storm was an "unwelcome complication for crude, raising the prospect of production and refining disruptions at a ​time when the market already has...