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Back|Oil prices rise after Houthi militants claim they attacked Saudi airports and Aramco facilities
Oil prices rise after Houthi militants claim they attacked Saudi airports and Aramco facilities
Urgent
CNBC World·1 hour ago·Energy·1 min read

Oil prices rise after Houthi militants claim they attacked Saudi airports and Aramco facilities

Quick Look

  • Brent crude futures rose 19 cents to $110.05 per barrel and U.S.
  • West Texas intermediate advanced $2.24 to $103.65 per barrel on Monday after Iran-backed Houthi militants claimed attacks on Saudi Arabia's King Khalid International Airport, Abha International Airport, Saudi Aramco facilities in Yanbu, the Shaybah oilfield and Saudi naval forces.
  • Earlier, Saudi Arabia postponed its Future Investment Initiative conference due to escalating Houthi attacks.

AI-generated summary

Why It Matters

The Houthi movement, backed by Iran, has been conducting attacks against Saudi Arabia amid the Yemen conflict. Ukraine has been striking Russian energy facilities as part of its defense against the Russian invasion. The Future Investment Initiative is a major Saudi economic conference.

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Crude prices rose Monday as Iran-backed Houthi militants claimed attacks on Saudi Arabia and Ukraine struck oil facilities in Russia.

Brent crude futures, the international benchmark, added 19 cents to $110.05 per barrel. U.S. West Texas intermediate advanced $2.24 to $103.65 per barrel.

The Houthis claimed Monday to have attacked King Khalid International Airport in Riyadh; Abha International Airport in southwestern Saudi Arabia, close to Yemen; Saudi Aramco facilities in Yanbu on the Red Sea Coast; the Shaybah oilfield and Saudi naval forces.

Earlier Monday, Saudi Arabia postponed until next year the Future Investment Initiative conference planned for four days next week due to the escalating attacks by the Houthis against the kingdom.

The militants struck King Khalid International Airport about 10 days ago, killing at least 12 and leaving hundreds injured.

In Russia, meanwhile, fires broke out at an oil terminal and depot in St. Petersburg after Ukraine launched a massive wave of drone strikes on Sunday, St. Petersburg Governor Alexander Beglov said in a social media post.

The terminal in St. Petersburg exports about 120,000 barrels per day of refined products, mostly fuel oil, according to data from Kpler. It is unclear the level of damage at the facility.

Ukraine briefly paused strikes on Russian energy facilities after President Donald Trump declared on Oct. 11 that Kyiv and Moscow had agreed to a truce.

What to Watch

AI outlook — possibilities, not facts

  • Global oil prices may remain elevated if Middle East tensions persist

    Likely · Within weeks

Open Questions

  • ?What is the extent of damage to the St. Petersburg oil terminal?
  • ?Will the Houthi attacks continue or escalate further?
  • ?How will these events affect global oil supply chains long-term?

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This article was originally published by CNBC World.

Quick Look

  • Brent crude futures rose 19 cents to $110.05 per barrel and U.S.
  • West Texas intermediate advanced $2.24 to $103.65 per barrel on Monday after Iran-backed Houthi militants claimed attacks on Saudi Arabia's King Khalid International Airport, Abha International Airport, Saudi Aramco facilities in Yanbu, the Shaybah oilfield and Saudi naval forces.
  • Earlier, Saudi Arabia postponed its Future Investment Initiative conference due to escalating Houthi attacks.

AI-generated summary

Story signals

News tone
Sensitive
Emotional intensity
High
News value
High
Global impact
Global
Urgency
Urgent
Follow-up likelihood
Likely
Relevance window
Days

Source & Reliability

Source
CNBC World
Story type
Hard news
Source quality
Full
Published
1 hour ago

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