Oil hits near six-month high as Houthi attacks rattle Saudi Arabia
Brent crude oil prices reached a six-month high following Houthi drone and missile attacks on Saudi Arabian energy infrastructure. The attacks resulted in casualties and raised global concerns regarding oil supply chain disruptions.
Why it matters
Rising oil prices directly impact global inflation and energy costs, making geopolitical instability in the Middle East a major concern for the global economy.
Oil hits near six-month high as Houthi attacks rattle Saudi Arabia left A drone view shows fuel vessels docked at the Baniyas oil terminal in Baniyas, Syria, October 12, 2026. REUTERS/Karam al-Masri KARAM ALMASRI REUTERS https://th-i.thgim.com/public/incoming/tw92zs/article71611191.ece/alternates/FREE_1200/2026-10-20T164348Z_1623997298_RC2Q1OAQOHKR_RTRMADP_3_SYRIA-SAUDI-ARAMCO.JPG KARAM ALMASRI A drone view shows fuel vessels docked at the Baniyas oil terminal in Baniyas, Syria, October 12, 2026. REUTERS/Karam al-Masri Brent crude futures (December) were trading about 3.2% higher than their previous close at $112.35 per barrel on Thursday afternoon Benchmark crude oil prices surged to a near six-month high on Thursday, breaching the $110-a-barrel mark as Houthi forces targeted Saudi Arabia’s civilian and energy infrastructure, escalating concerns over oil supply disruptions in West Asia. Brent crude futures for December delivery rose 3.2% from the previous close to $112.35 a barrel on Thursday afternoon, after touching an intraday high of $112.67.
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