Oil hits near six-month high as Houthis attack Saudi Arabia

A drone view shows fuel vessels docked at the Baniyas oil terminal in Baniyas, Syria, October 12, 2026. REUTERS/Karam al-Masri | Photo credit: KARAM ALMASRI

Benchmark oil prices rose to a near six-month high and breached $110 a barrel on Thursday as Houthi forces targeted Saudi Arabia’s civilian and energy infrastructure, escalating fears of oil disruptions in West Asia.

Brent crude futures for December delivery were up 3.2% on Thursday afternoon from a previous close of $112.35 a barrel after touching an intraday high of $112.67. U.S. benchmark West Texas Intermediate (WTI) crude firmed 2.47% to $99.55 a barrel.

Iran-backed Houthi forces targeted Dammam’s King Fahd International Airport on Thursday, while Saudi Arabia’s air defenses intercepted an attempted drone attack near Saudi Aramco’s Shaybah oil facility.

The Saudi Ministry of Energy said in a statement that the intercepted attack took place outside the perimeter of the facility and did not affect operations.

The incident reportedly claimed two lives and injured two, including an Indian national. The airport attack also killed two people, including an Indian national, while two other Indian nationals were injured

Published – 22 Oct 2026 16:43 IST