Brent crude hits five-month high amid Houthi attacks on Saudi sites
Oil prices rose sharply on Tuesday, with Brent crude reaching $110.80 per barrel — a five-month high — driven by concerns over supply disruptions due to recent Houthi attacks in the Gulf region and reports of vessel assaults. Yemen's Iran-aligned Houthis claimed responsibility for strikes targeting Saudi energy infrastructure, airports, and military sites, though these claims were not independently verified. The geopolitical tensions have led traders to factor in a risk premium into oil prices. Analysts noted that unless supply flows remain unaffected by the instability — which is currently unlikely given reports of 18 vessel attacks over two weeks — the elevated price levels are likely to persist. In addition, an attack on a security training camp in Yemen's Shabwa province killed at least 58 people and injured more than 200, further heightening regional tensions.
Tickers: $BRENT
Topics: Brent_crude geopolitical_risk oil WTI