Business · Energy & Commodities · 2 hrs ago
Oil prices rise as attacks in Saudi Arabia raise supply concerns
Oil prices rose on Monday as attacks in Saudi Arabia and threats to ships in the region raised fears of disruptions to crude supplies.
Houthi forces aligned with Iran claimed responsibility for a Saturday attack on Riyadh’s international airport that killed 13 people and injured more than 300.
Further attacks followed on Sunday, while tankers were also hit near Oman and in the Strait of Hormuz.
Saudi Arabia is one of the world’s largest oil producers, and attacks on its infrastructure or nearby shipping could reduce the amount of oil reaching markets.
Brent crude ended the day at $106.65 a barrel, its highest level since September 15, while US crude also rose.
The price increases came despite US President Donald Trump saying Russia would supply more diesel to US and global markets.
Goldman Sachs raised its forecast for Brent in December, citing a risk premium linked to the conflict.
Oil prices rose nearly $2 a barrel on Monday as attacks in Saudi Arabia raised concerns about supply.
Brent futures settled up 1.8% at $106.65 a barrel, their highest level since September 15.
US West Texas Intermediate crude rose 2% to $93.74 a barrel.
The Houthis claimed responsibility for a Saturday attack on Riyadh’s international airport that killed 13 people and injured more than 300.
Further attacks and reported tanker incidents raised concerns about crude exports from the Middle East.
- Who
- Oil traders and producers, with the Houthis claiming responsibility for an attack on Riyadh’s airport.
- What
- Oil prices rose as attacks in Saudi Arabia and reported tanker incidents heightened concerns about supply.
- When
- Monday, October 12, 2026.
- Where
- Saudi Arabia and the Middle East, including the Strait of Hormuz.
- Why
- The attacks threatened oil infrastructure and crude supply; concerns about supply outweighed prospects for increased diesel exports.
This story does not have two clearly opposing sides.
Trump said Russia would immediately supply more than 300,000 metric tons of diesel to US and global markets.
The Houthis claimed responsibility for an attack on Riyadh’s international airport that killed 13 people and injured more than 300.
Further attacks took place, intensifying the conflict.
Brent and WTI crude prices rose as attacks raised supply concerns.
- Brent settlement
- $106.65 a barrel, up 1.8%
- WTI settlement
- $93.74 a barrel, up 2%
- Riyadh airport attack
- 13 people killed and more than 300 injured
- Russia diesel supply
- More than 300,000 metric tons announced for US and global markets
- Goldman Sachs Brent forecast
- December forecast raised from $85 to $90 a barrel
What people are saying
The shocking Houthi missile attack on the airport in Riyadh, Saudi Arabia, will obviously intensify retaliation against the Houthis in Yemen.
The sense of some normality in exports through the Strait of Hormuz was shaken last week.
The release of liquidity will occur gradually over the rest of this year, and the volumes expected for next month do not seem capable of putting much additional pressure on prices.
Sources
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