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Brent Crude Surges Above $100 Amid Houthi Attacks
Confirmed
In Short: Brent crude oil prices surged above $100 per barrel on Wednesday, driven by fresh Houthi attacks on Saudi Arabia's energy infrastructure.
Brent crude oil prices surged above $100 per barrel on Wednesday, driven by fresh Houthi attacks on Saudi Arabia's energy infrastructure, according to reports from Oilprice and Startupfortune. The price of Brent crude reached $101.49 per barrel, while West Texas Intermediate was trading at $90.14 per barrel, as per Oilprice.
Oilprice reported that the price surge was fueled by concerns over the security situation in the Middle East, despite the improving flows of crude and products. Vitol estimated that approximately 14 million barrels of crude oil and fuels are being exported from the Persian Gulf daily, highlighting the ongoing tension.
Al Jazeera (Qatar) and Thestar (Canada) reported conflicting narratives. Al Jazeera suggested that Ukrainian attacks were driving the global diesel shortage, while Thestar (Canada) focused on Russian President Vladimir Putin's stance on peace talks and trade limitations.
Proactiveinvestors (United Kingdom) and Arabnews (Saudi Arabia) reported that the latest attacks followed repeated Houthi strikes on Saudi energy infrastructure, including the Jazan refinery, which had been offline since July. Arabnews reported that Saudi air defenses shot down a Houthi ballistic missile north of Riyadh and destroyed a depot containing 20 ballistic missiles inside a mountain in Saada.
According to Oilprice, the US benchmark West Texas Intermediate also climbed past $95, marking another escalation in a pricing trend that has been building for months. The surge complicates the Fed's next rate decision as core inflation runs at 3.3%.
The attacks on Saudi Arabia's southern cities of Khamis Mushait, Abha, Najran, and Jazan with drones and missiles on Tuesday, wounding 73 people, were reported by Startupfortune and Warpbeat. The Houthis claimed responsibility for the strikes, framing them as retaliation for ongoing Saudi military actions in Yemen.
Despite the attacks, Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, stated that the kingdom’s oil flows via the Rast-West pipeline had rebounded to 5.8 million barrels daily, according to Oilprice.
The attacks and the resulting price surge reflect a renewed geopolitical risk premium rather than an actual shortage of crude supplies, according to Tekedia.
In summary, while the publications reported varying levels of detail, they all agreed that Brent crude oil prices surged above $100 per barrel on Wednesday, driven by fresh Houthi attacks on Saudi Arabia's energy infrastructure, highlighting the ongoing geopolitical tensions in the Middle East.
What this adds
Wednesday, October 7, 2026 · 5:19 PM ET In Short: Brent crude oil prices surged above $100 per barrel on Wednesday, driven by fresh Houthi attacks on Saudi Arabia's energy infrastructure, according to reports from Oilprice and Startupfortune.
Background
Dawn (Pakistan) reported that Prime Minister Shehbaz Sharif spoke to Saudi Crown Prince Mohammed bin Salman on Sunday, condemning the recent Houthi attacks against the Kingdom and describing them as “reckless actions” that threaten regional stability and peace.
Pakistan, Saudi Arabia, and Türkiye will convene the Strategic Political Defense Committee in Riyadh next week to discuss the surge in Houthi attacks on Saudi Arabia.
What's confirmed
- Brent Back Above $100 as Houthis Hit Saudi Infrastructure What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… Crude oil prices, which dipped on Tuesday, reversed their direction, with Brent ticking above $100 again earlier today following reports of fresh Houthi attacks on Saudi energy infrastructure.
- At the time of writing, Brent crude was trading at $101.49 per barrel and West Texas Intermediate was changing hands for $90.14 per barrel, despite a statement from Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, who said Tuesday the kingdom’s oil flows via the Rast-West pipeline had rebounded to 5.8 million barrels daily.
- This appears to have fueled concern about the security situation in the Middle East despite the improving flows of crude and even products: per Vitol, some 12 million barrels of crude oil are getting out of the Persian Gulf daily, plus 2 million barrels of fuels.
- The statement countered reports of another shutdown of the pipeline after Houthi attacks.
- The Houthis have not said their Saudi attacks are finished.
- Brent crude topped $100 a barrel for the first time since July after the US destroyed five Iranian oil tankers, Iran struck a US-linked base in Jordan, and Houthi fighters hit four Saudi cities, wounding 73 people.
- Yemen's Iran-aligned Houthi movement hit Saudi Arabia's southern cities of Khamis Mushait, Abha, Najran and Jazan with drones and missiles on Tuesday.
- The market is now fully braced for Brent crude to trade above $100/barrel on a sustained basis." "Saudi Arabia has halted operations at several southern energy facilities after attacks triggered fires and caused injuries, escalating risks to regional oil supply.
- The strikes follow repeated Houthi attacks on Saudi energy infrastructure, including the 400,000 barrel/day Jazan refinery, which had already been offline since July." "The disruption comes as shipments through the Strait of Hormuz remain constrained by the U.S.-Iranian conflict, increasing the risk of simultaneous supply losses across key Middle East export routes.
- "The broader backdrop is also deteriorating, with Iran signaling a more aggressive military posture and the Houthis threatening to blockade Saudi oil flows, reinforcing upside risks to energy prices and global inflation."
- US benchmark West Texas Intermediate climbed above $95 in tandem, marking yet another escalation in a pricing trend that has been building for months.
- US benchmark WTI crude also climbed past $95 as escalating Middle East tensions threaten critical global shipping routes and energy supply chains.
What's still developing
- Brent touched just over $100 a barrel in early trading on Wednesday, its highest level since July, after a burst of attacks pulled the Strait of Hormuz, Saudi oil infrastructure and the Federal Reserve into the same market conversation.
- The move follows reports that Houthi militants struck two Saudi oil tankers, raising fears that critical energy infrastructure and shipping routes could face further disruption.
- "Unlike during the spring oil price surge, a stronger policy response is now looking increasingly difficult to avoid, with the Fed likely to lead that adjustment."
- Dawn (Pakistan) reported that Prime Minister Shehbaz Sharif spoke to Saudi Crown Prince Mohammed bin Salman on Sunday, condemning the recent Houthi attacks against the Kingdom and describing them as “reckless actions” that threaten regional stability and peace.
- South Korea Unveils $747 Billion Plan to Break Its Fossil Fuel Habit What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… Crude oil prices, which dipped on Tuesday, reversed their direction, with Brent ticking above $100 again earlier today following reports of fresh Houthi attacks on Saudi energy infrastructure.
- LNG Tankers Push Through Hormuz Again as Qatar, UAE Fight Supply Crunch What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Oil prices continued to rise early on Tuesday, rallying by 1.7% in Asian trade, as the Iran-backed Houthis in Yemen are expanding their control over the west coast along the Red Sea, while the attacks on a key Saudi onshore oil pipeline triggered concerns about additional disruptions to already severely disrupted oil supply from the Middle East.
- Srinagar, Sep 11: US President Donald Trump rejected a request from Saudi Crown Prince Mohammed bin Salman to order strikes against Yemen’s Iran-backed Houthis, Axios reported, citing two US officials.
- US officials said the Trump administration currently has no plans to intervene directly against the Houthis.
- The development comes as the US-Iran conflict intensifies across the Red Sea, Yemen and the Strait of Hormuz, with attacks on shipping increasing and oil prices rising above $100 a barrel.
- Base formed below stock's 200-day line, but handle formed above that level IBD Composite Rating N/A Industry Group Ranking 1/197 Emerging Pattern Cup with Handle Cup with Handle A positive chart pattern named… 9/25/2026 The bitcoin whale's preferred stock falls twice a month, on schedule.
- Crude oil exports from the Middle East rose above pre-war levels in four of the seven days of the final week of September, shipping data showed on Monday, despite attacks on vessels passing through the Strait of Hormuz.
- Meanwhile, Houthi advances in Yemen have added a second pressure point around the Arabian Peninsula.