Archive · 14 Sep 2026
Brent Tops $108 as Middle East Attacks Threaten Oil Supplies
Oil became more expensive on Monday because traders were worried that fighting could interrupt oil deliveries.
Brent crude rose above $107 a barrel, while WTI reached about $103.
A Saudi pipeline was shut after reported drone attacks.
That pipeline carries oil, so its closure could affect a large amount of global supply.
Houthi activity near the Bab el-Mandeb also raised concerns about ships traveling between the Red Sea and the Gulf of Aden.
A merchant ship was struck near the Strait of Hormuz, killing one person and injuring three.
Iran has tightened rules for ships passing through the strait.
Talks involving Iran and Gulf states were postponed, reducing hopes for a quick end to the tensions.
Saudi Arabia also reported producing much less oil in August than in July.
Brent crude rose 3.20% to $107.82 a barrel for November delivery.
West Texas Intermediate gained 3.20% to $103.20 a barrel for October delivery.
Saudi Arabia temporarily shut its East-West Pipeline after reported drone attacks, potentially exposing exports equivalent to about 4% of global supply.
Houthi activity near the Bab el-Mandeb and disruptions affecting Gulf and Red Sea shipping increased concerns about tanker traffic.
A vessel strike near the Strait of Hormuz killed one person and injured three, while Saudi oil production fell 23% in August.
- Who
- Oil traders, Saudi Arabia, Iran, Houthi forces, the United States, Oman, and Gulf states are involved in the reported developments.
- What
- Brent and WTI prices rose as attacks, shipping disruptions, reduced Saudi production, and stalled talks increased fears of oil-supply interruptions.
- When
- The price rise was reported on Monday; Saudi Arabia's production figures refer to August 2026.
- Where
- The developments involved Saudi Arabia, the Gulf, the Red Sea, the Bab el-Mandeb, the Gulf of Aden, and the Strait of Hormuz.
- Why
- Markets feared that attacks on infrastructure, threats to shipping, tighter controls around the Strait of Hormuz, and lower Saudi production could reduce oil supplies.
Gulf States and United States
Iran and Houthi Forces
Control of the Strait of Hormuz
Gulf States and United States
The United States carried out strikes along the Iranian coastline, while Oman postponed talks involving Iran and Gulf states about the waterway's future.
Iran and Houthi Forces
Iran tightened controls over the strait, requiring vessels to seek permission before passing and considering service fees; vessels that did not comply reportedly faced attacks.
Threats to Oil Infrastructure and Shipping
Gulf States and United States
Saudi Arabia's pipeline shutdown and the strike on a merchant vessel were treated by markets as threats to global oil supplies and shipping.
Iran and Houthi Forces
Houthi forces advanced around the Bab el-Mandeb, and Iran-backed Houthi rebels threatened oil shipments from Saudi Arabia's western coast.
Diplomatic Efforts
Gulf States and United States
The postponement of talks and the failure to reach a permanent agreement were seen as reducing the prospects for a quick easing of tensions.
Iran and Houthi Forces
No separate justification for the stalled talks or continued attacks was provided in the articles.
- Brent price
- $107.82 per barrel for November delivery
- WTI price
- $103.20 per barrel for October delivery
- Daily price change
- Both Brent and WTI rose 3.20%
- Potential supply exposure
- Exports equivalent to roughly 4% of global supply could be disrupted if the Saudi pipeline shutdown continues
- Saudi August production
- 6.2 million barrels per day
- Saudi production decline
- August output was 23% below July's level
- Strait of Hormuz vessel incident
- One person was killed and three were injured
