Oil edges up as Houthis claim strikes on Saudi oil sites before a week of inflation tests

Oil rose 0.8% to $103.06 at Sunday evening's open after the Houthis claimed unverified strikes on Saudi oil sites, while stock futures barely moved. A small, calm reaction suggests much of the Gulf risk was already priced, but oil near $103 still feeds the inflation worry that has the 30-year yield at 5.629%, just under its 2002 high. Confirmed damage to Saudi output, or Monday's ISM services prices index, could change that.What happened: stock and oil futures reopened Sunday evening for the first time since Friday. S&P 500 and Nasdaq-100 futures rose about 0.1%, which is close to no change. Brent rose 81 cents, or 0.8%, to $103.06 by about 6pm New York time, and US crude rose 0.5% to $91.57. Reuters tied the move to a Houthi claim of missile and drone attacks on Saudi Aramco sites near Riyadh and in Khurais; the claim had not been independently verified, and the Saudi-led coalition called an earlier version of it misleading. Earlier Sunday, OPEC+ kept November output targets unchanged. Bitcoin rose about 2% over 24 hours to near $86,500.

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