Brent reaches a five-month high after Houthi strikes on Saudi Arabia
Brent touched $112.68 a barrel, its highest since 18 May, after attacks on a Saudi airport and oil field and further strikes on shipping near Hormuz.
Source published · In the Daily Brief of 23 October 2026
Brent crude futures rose as much as $112.68 a barrel on Thursday, the highest since 18 May, after Yemen’s Houthis struck several targets in Saudi Arabia, killing one person at a civilian airport in Dammam and two in a drone attack on an oil field. Saudi Aramco told staff to evacuate its headquarters in Dhahran and work remotely, according to Reuters.
Analysts at PVM said attacks on ships in the Strait of Hormuz and on Saudi infrastructure outweighed reports that Middle East exports had recovered above pre-conflict levels, and that no de-escalation was expected before the US midterm elections.