From The Economic Times · Veer Sharma · · 1m 20s
Oil Prices Surge Past $114 as Houthi Attacks Intensify
Oil prices jump 8% this week to $114+ as Houthi attacks on Saudi Arabia disrupt energy supplies.
In brief
Oil prices jump 8% this week to $114+ as Houthi attacks on Saudi Arabia disrupt energy supplies. Oil prices rose to $114.02 a barrel after Houthi attacks on Saudi Arabia raised supply concerns. Originally reported by The Economic Times.
Oil Prices Rise
Brent crude futures rose 50 cents, or 0.45%, to $114.02 a barrel, while US WTI crude gained 40 cents, or 0.42%, to $100.
Houthi Attacks on Saudi Arabia
Saudi Aramco ordered evacuation of its Dhahran headquarters as Houthi clashes intensified near the Red Sea.
Houthi-Backed Clashes
Houthis and Saudi-led coalition clash near Bab el-Mandeb, a Red Sea shipping chokepoint.
Russia's Energy Role
Russia was the world's third-largest crude oil producer in 2025, behind the US and Saudi Arabia.
Sanctions Impact
US sanctions on Russian energy since 2022 have pushed up global oil prices.
US-Israeli Strike Plans
US and Israeli militaries plan renewed strikes on Iran after US midterms, targeting energy infrastructure.
Potential Iran Targets
Potential targets include Iran's energy infrastructure, nuclear facilities, and missile/drone arsenals.
Oil Price Scenarios
Goldman Sachs says oil could rise to $120 if attacks escalate or drop to $80 if supply returns to normal.
Market Uncertainty
JPMorgan analysts say the war's trajectory remains difficult to model, with many economic thresholds crossed.
In short
Oil prices rose to $114.02 a barrel after Houthi attacks on Saudi Arabia raised supply concerns.
