Business · Energy & Commodities · 2 hrs ago
Oil Holds Gains as Middle East Conflict Threatens Supply Recovery
Oil prices held onto recent gains as conflict in the Middle East threatened the recovery of regional supplies.
West Texas Intermediate traded near $93 a barrel after rising 2.1% in the previous session, while Brent settled near $107 on Monday.
The United States is at war with Iran, and Brent has risen more than 70% this year.
Iran-backed Houthi militants attacked Saudi Arabia’s main airport with drones and missiles, adding pressure on Washington to increase its efforts in Yemen.
Strikes on tankers in the Strait of Hormuz have also led more vessels to avoid a port in the United Arab Emirates that has helped Persian Gulf oil exports recover.
These developments could disrupt supply when markets are already unsettled.
The conflict’s impact on shipments and the recovery in exports remains uncertain.
Oil held gains as a widening Middle East conflict threatened the recovery of regional supply.
West Texas Intermediate traded near $93 a barrel after rising 2.1% in the previous session, while Brent settled near $107 on Monday.
Drone and missile attacks by Iran-backed Houthi militants on Saudi Arabia’s main airport intensified pressure on Washington to step up its efforts in Yemen.
Strikes on tankers in the Strait of Hormuz have escalated, and more vessels are turning away from a port in the United Arab Emirates that has helped Persian Gulf oil exports recover.
There were also doubts over US President Donald Trump’s claims of an “energy ceasefire” between Russia and Ukraine.
- Who
- Oil traders and producers are watching the conflict and its effect on supply. Iran-backed Houthi militants, Saudi Arabia, and the United States are among the parties involved.
- What
- Oil held gains as conflict threatened to hamper the recovery of Middle East supply.
- When
- Monday, October 12, 2026.
- Where
- The Middle East, including Saudi Arabia, Yemen and the Strait of Hormuz.
- Why
- Conflict and attacks on energy infrastructure and tankers threaten regional oil supply and exports.
This story does not have two clearly opposing sides.
Riyadh-led forces in Yemen launched a campaign to retake Houthi-held territory.
Houthi militants attacked Saudi Arabia’s main airport with drones and missiles.
Brent settled near $107 a barrel, while West Texas Intermediate traded near $93 after rising 2.1% in the previous session.
- West Texas Intermediate
- Near $93 a barrel
- Brent
- Near $107 a barrel on Monday
- Houthi attacks
- Drone and missile strikes on Saudi Arabia’s main airport
- Strait of Hormuz
- Tanker strikes escalated
- Oil price rise
- Brent was more than 70% higher this year
What people are saying
Its been a dizzying few days of headlines
We are off to a messy start this week.
Sources
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