# 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.
- Title: Oil Prices Surge Past $114 as Houthi Attacks Intensify
- Summary: 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…
- Keywords: brent crude, wti crude, saudi arabia, houthi attacks, oil prices, energy attacks, oil price forecast, saudi aramco, iran, ukraine, russian oil, oil supply disruption
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/commodities/news/oil-price-today-october-23-crude-oil-ticks-over-114-jumps-nearly-8-this-week-as-energy-attacks-intensify-what-are-experts-saying/articleshow/135131739.cms
- Author: Veer Sharma
- Published: 2026-10-23T02:07:00+00:00
- Read time: 1 min
- Topics: brent crude, wti crude, saudi arabia, houthi attacks, oil prices, energy attacks, oil price forecast, saudi aramco, iran, ukraine, russian oil, oil supply disruption
## 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.
## Key takeaway

Oil prices rose to $114.02 a barrel after Houthi attacks on Saudi Arabia raised supply concerns.