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Oil rises after Houthi attack on Saudi capital - Finance news and analysis from Global Banking & Finance Review
Finance

Oil rises after Houthi attack on Saudi capital

Published by Global Banking & Finance Review

Posted on September 20, 2026

1 min read

· Last updated: September 20, 2026

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Finance Markets Oil Middle East

Oil Rises After Houthi Missile and Drone Attack Hits Saudi Capital Riyadh

Impact of Houthi Attacks on Oil Prices

Market Reaction to Escalating Tensions

SINGAPORE, Sept 21 (Reuters) - Oil prices rose on Monday after Yemen's Iran-backed Houthis launched missile and drone strikes at Saudi Arabia's capital Riyadh on Saturday, escalating tension in the Middle East while the US and Iran remained in stalemate.

Brent Crude and West Texas Intermediate Performance

Brent crude futures climbed 81 cents, or 0.78%, to $104.68 a barrel by 2202 GMT while US West Texas Intermediate crude was at $101.06 a barrel, up 76 cents, or 0.76%.

Reporting and Analysis

(Reporting by Florence Tan in Singapore)

Key Takeaways

  • Brent crude rose about 0.8% to $104.68 and WTI gained roughly 0.76% to $101.06 after the Houthi strikes on Riyadh’s sensitive sites, including near the airport and Aramco facilities (marketscreener.com).
  • The growing threat to Saudi energy infrastructure—compounded by pipeline closures and Houthi control over Bab al‑Mandab Strait—has heightened global supply concerns (apnews.com).
  • Escalating conflict and a U.S.–Iran stalemate over regional influence continue to add geopolitical risk premiums to oil markets (axios.com).

References

Frequently Asked Questions

Why did oil prices rise on Monday?
Oil prices rose after Yemen's Houthi group launched missile and drone attacks on Saudi Arabia's capital, escalating tensions in the Middle East.
What were the Brent crude and WTI crude prices after the attack?
Brent crude futures climbed to $104.68 a barrel and US West Texas Intermediate crude rose to $101.06 a barrel.
Who launched the attack on Saudi Arabia's capital?
The Iran-backed Houthi group from Yemen launched missile and drone strikes on Riyadh.
How does Middle East tension affect oil prices?
Escalating tensions in the Middle East often lead to concerns over oil supply disruptions, causing oil prices to rise.

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