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Oil Jumps 6.3% to $107.63 as Houthis Seize Yemen Port

ABC News / Associated Press2 min read9 sources

Why did oil jump 6.3%?

Brent crude jumped 6.3% to $107.63 on Thursday as Houthi forces seized Yemen's Mocha port and bombed Saudi Aramco energy installations, triggering the sharpest oil-shock market selloff since the conflict began.

Key numbers

Brent Crude Close$107.63/bbl+6.3%, biggest single-day gain since the conflict began
WTI Crude Close$102.48/bbl+6.7%, first close above $100 since May
Dow Jones Industrial Average52,064-316 pts (-0.6%), fourth straight daily decline
US Diesel Retail Price$6.05/gallonRecord high
10-Year Treasury Yield4.95%Rising on oil-driven inflation expectations
Bab el-Mandab Oil Share~10% of global supplyAt risk from Houthi control of Mocha port

What happened

Brent crude jumped 6.3% to $107.63 on Thursday as Houthi forces seized Yemen's Mocha port and bombed Saudi Aramco energy installations, triggering the sharpest oil-shock market selloff since the conflict began. The Houthis captured Mokha — a port 43 miles north of the Bab el-Mandab Strait — after overnight clashes, their biggest territorial gain since the 2022 ceasefire. Houthi drones and missiles struck Aramco facilities in Abha, Najran, and Jizan, wounding 73 people and halting operations at multiple sites. The Dow Jones fell 316 points — its fourth straight decline — as the moves threatened roughly 10% of global oil flowing through the strait.

Why it matters

Brent crude crossing $107 for the first time since May is a direct cost shock — higher oil means pricier fuel, shipping, and manufacturing for households and businesses worldwide. The Mocha capture puts Houthis just 43 miles from the Bab el-Mandab Strait, a chokepoint for roughly 10% of global oil, giving new leverage over tanker traffic. Diesel hit a record $6.05 a gallon in the United States on Thursday, and RBC Capital analysts warn Brent could reach $120 if the fighting persists.

Who this affects

Marketbearish
High impact
Broader stock market sold off as energy costs surged.
Companybearish
High impact
Saudi Aramco output halted at key facilities under attack.
Competitorsbullish
Medium impact
Rival oil producers benefit from higher prices.
Industrymixed
High impact
Energy sector gains; oil-dependent industries face rising input costs.

Brent Crude vs WTI, Saudi Aramco, XLE Energy ETF

Brent CrudeBZ:CME$107.63+6.3%+56.6%
WTI CrudeCL:NYMEX$102.48+6.7%+58.8%
Saudi Aramco2222.SR26.14 SAR+0.4%—
XLE Energy ETFXLE:NYSE$64.93-0.6%+48.1%

As of 2026-09-10

How we got here

  1. Houthis launch drone and missile barrage on Aramco facilities in three Saudi cities; 73 wounded

  2. Brent crude closes above $100 for first time since May 22

  3. Houthis seize Mocha port; Brent jumps 6.3% to $107.63; Dow falls 316 points

  4. Oil retreats ~2.5%; Houthis advance on Bab el-Mandab's Perim Island

What to watch

  • Houthi advance on Perim Island could give near-full Bab el-Mandab control2026-09-12
  • OPEC+ emergency response to Saudi output losses and supply shortfallQ4 2026
  • U.S. policy reversal on Houthi strikes would sharply shift market outlookQ4 2026

Educational content only. Not investment advice.

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