Oil prices jump more than $3 after new strikes on Saudi, Strait of Hormuz
Oil prices surged over $3 per barrel following attacks on Saudi Arabian infrastructure and a vessel in the Strait of Hormuz. The market remains volatile as supply concerns grow and diplomatic talks between Gulf nations and Iran are postponed.
Why it matters
Disruptions in the Strait of Hormuz and Saudi oil facilities have immediate, global consequences for energy prices and economic stability.
Oil prices rose more than $3 a barrel at the market open on Monday, after new strikes on Saudi Arabia and on ships in the Gulf on Sunday (September 13, 2026).
Brent crude futures rose $3.62, or 3.46%, to $108.23 per barrel as of 2214 GMT (Sunday). WTI futures rose $3.15, or 3.15%, to $103.20 per barrel.
Saudi Arabian state media on Sunday (September 13) released video footage of damage to homes and a mosque from what it said was a Houthi attack on the country's southern Jazan province. The Houthis said they had also struck a Saudi military base in a neighbouring province.
A vessel in the Strait of Hormuz was struck by a projectile, causing a fire and forcing the crew to be evacuated, the British maritime security agency UKMTO said on Sunday (September 13).
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