Brent Crude Rises Above $106 as Houthis Intensify Attacks on Saudi Targets
- Brent crude rose above $106 a barrel as Houthi attacks on Saudi targets increased concerns about Middle Eastern oil supplies.
- A suspected Houthi strike on a Saudi Aramco administrative building in Dhahran caused a limited fire.
- Traders monitored shipping risks and uncertainty around tanker traffic through the Strait of Hormuz, a major route for global oil shipments.
- Reuters reported that possible increases in Russian diesel exports could ease pressure, while traders remained concerned about Middle Eastern supply disruptions.
11 Articles
11 Articles
Crude oil nears $110 as Saudi attacks and Hormuz risks stoke supply fears
Crude oil is nearing $110 a barrel after attacks on Saudi targets and shipping concerns in the Strait of Hormuz. The rise threatens to increase India's import costs, inflation pressures and demand for dollars.
Oil prices rose on the world market on October 14. Attacks on ships in the Strait of Hormuz and tensions around Saudi Arabia have heightened concerns about supply. At 07:45 Baku time, Brent futures rose 0.6% to $106.32 per barrel, while the US WTI brand rose 0.7% to $94.80. These are not the closing prices of the day. Banker.az reports that the market's attention is on the […]
In the course of trading operations on the ICE London intercontinental exchange, the value of the December 2026 contract for the export of Brent oil increased by 0.49% to $106.21 per barrel.
Oil prices have risen as escalating conflict in Yemen between Iranian-backed Houthi rebels and Saudi Arabia increases risks to global supply. Having gained 8 percent in October, oil prices are nearing their highest levels in a month.
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